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Ayelet Sheffey   


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Just a third of the money from the government's massive Payroll Protection Program actually helped keep workers employed, study says

The program was "highly regressive," researchers said. Of the $510 billion in initial PPP loans, $3…

Ben Winck   


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4 mins read

Mother of 6 says San Antonio basic-income program allowed her to rent a home and buy shoes for her kids

Monique Gonzalez, 41, was able to secure housing for her six children with money from San Antonio's…

Allie Kelly   


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Biden mocks Republicans for accepting pandemic relief funds while opposing student loan forgiveness: 'My program is too expensive?'

"The hypocrisy is stunning," Biden said of the large support for pandemic relief for businesses as …

Brent D. Griffiths   


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Tens of thousands of PPP loans at high risk for 'fraud, waste, and abuse,' House Democrats say

More than $1 billion in relief funds were made to firms receiving multiple loans, the group said. T…

Ben Winck   


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5 ways Biden just tweaked the PPP to help the smallest businesses survive

Biden's changes to the PPP help businesses with less than 20 workers (or none at all) and those wit…

Ayelet Sheffey   


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Biden is changing PPP rules. For 2 weeks, only businesses with fewer than 20 employees can claim pandemic relief loans.

Biden's changes to the PPP loan rules are designed to ensure that smaller companies aren't left beh…

Kate Duffy,Reuters   


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Businesses at properties owned by the Trump Organization and Kushner Cos. benefited from over 25 PPP loans worth $3.65 million, a new report says

The Kushner Cos. general counsel said the NBC News analysis was "completely untrue and amounted to …

Oma Seddiq   


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More than half of the money from the Paycheck Protection Program went to just 5% of recipients

The federally funded program was meant to help small businesses keep paying employees, but new data…

Barbara Smith   


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Joseph Zeballos-Roig   


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House Democrats pass their $2.2 trillion stimulus plan, which includes $600 federal unemployment benefits and direct payments

The coronavirus relief package is likely to be rejected in the GOP-controlled Senate, as many Repub…

Joseph Zeballos-Roig   


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1 min read

A Mississippi man is accused of spending PPP loan money on a $100,000 Tesla and a million-dollar house

Christopher Paul Lick received $6 million in PPP loans by lying to banks about his businesses' expe…

Kate Duffy   


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Businesses connected to Trump advisor Jared Kushner and his family received millions in paycheck protection loans

The White House advisor and Ivanka Trump's spouse is technically no longer affiliated with the firm…

Graham Rapier   


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White-owned small businesses are twice as likely to get financing as Black- and Latino-owned firms, Fed survey finds

The survey conducted in fall 2020 also found Black-owned small firms five times as likely to be den…

Ayelet Sheffey   


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Chuck Schumer wants an investigation into how Trump donor Monty Bennett became the largest recipient of PPP funds

Senate Democratic Leader Chuck Schumer asked the SBA to investigate hotelier Monty Bennett. Bennett…

Tom LoBianco   


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The US Government is refusing to say which businesses received over $500 billion in coronavirus bailout loans

Treasury Secretary Steven Mnuchin told lawmakers that the information was considered proprietary an…

Graham Rapier   


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Biden signs PPP small-business aid extension into law one day before it was set to expire

Small businesses can now apply for aid from the Paycheck Protection Program through May 31, and app…

Ayelet Sheffey   


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Small businesses only accounted for 18% of pandemic-driven job losses, Goldman Sachs says

Active small businesses shrank by 25% in April but now stand just 6% below their pre-COVID level, a…

Ben Winck   


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Senate votes to extend PPP through May, continuing aid for small businesses

Along with a two-month extension, the bill allows for applications to the small business aid progra…

Ayelet Sheffey   


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House passes bill to extend PPP small business aid for 2 months

The bill extends the small business lending program through May 31 while allowing loan applications…

Ayelet Sheffey