15,000 Workers Will Lose Jobs Despite Hundreds Of Millions In PPP Loans

The Paycheck Protection Program isn’t working for some small businesses, according to a new report by S&P Global Market Intelligence, a financial data research firm.

The report released Thursday indicates more than 150 businesses that in aggregate received hundreds of millions of dollars in PPP funding have announced plans to lay off thousands of employees. The report’s authors found the coronavirus crisis is hurting businesses for far longer than the original PPP program contemplated.

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