Did The Pandemic PPP Loans Plan Really Work? We Still Don’t Know

When the pandemic hit last year, Andrew Leckie, who runs half a dozen restaurants and a catering company in Edmonds, Wash., was forced to lay off more than 200 employees.

Demand for his oysters and craft cocktails had dried up and his businesses were in trouble until a program intended to provide loans to small businesses like his came to his rescue.

“I don’t think there’s any way we would have been able to withstand the financial challenges that existed without this money,” Leckie says.

Taking advantage of the loans provided by the federal government’s Paycheck Protection Program (PPP), he was gradually able to rehire about three-quarters of his workforce.

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