PPP Round 1: Who Got the Money?
Round one of the Paycheck Protection Program (PPP) kicked off on April 3 and disbursed nearly $350 billion in just two weeks. The program, part of the $2 trillion stimulus legislation, is meant to aid struggling small businesses that have been hit hard by the coronavirus pandemic and the limits on in-person interaction that have come with it. The PPP is already in the midst of round two, but with round one in the books, let's take a look at who the money went to.
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Recent data from the Treasury Department shows that lenders issued more than 1.6 million loans collectively worth more than $342 billion as of April 16 (some data must be missing because $349 billion was lent out in total).
Source Fool.com
