October 28, 2020

PPP Loans Were Supposed To Be Forgiven. So Far, That Hasn’t Happened.-Vox

Congress created the PPP when it passed the CARES Act in March, aiming to funnel billions of dollars through banks to businesses that were suffering from widespread lockdowns during the pandemic. The loans were mainly meant to cover payroll, a way to keep employees earning money while stopping companies from going under, and were designed to be completely forgiven if used properly. But getting the $15,000 Laundon received forgiven has been anything but straightforward. She tried to find out what would be required to get forgiveness the day after she got her loan, but her lender didn’t have the information. Vox, 10/28/2020