Many unforgiven PPP financing end up in that-individual people
Less than ten% of the many Income Protection System financing remain unforgiven, & most those individuals fall under you to definitely-individual people – people the application extremely intended to let.
We have been speaking this week about the Income Protection Program, which effectively paid back businesses to store professionals into payroll through the this new pandemic. That cash was available in the type of loans, therefore the majority of those fund was forgiven way more than simply ninety%. Which is despite the program getting slammed to have providing currency to undeserving recipients, also downright scammers.
Usually are not may be the small group regarding borrowers that have unforgiven PPP funds? Austin Prompt and i had been reporting on this subject for NPR’s evaluation cluster, and you will what we discovered will get amaze you.