Ninety-one percent of all the loans have been forgiven so far. Overall, the PPP issued about $800 billion in potentially forgivable government loans to small businesses to keep their workers employed during COVID shutdowns. She received a $45,000 loan through the Paycheck Protection Program. SUMMERS: Beba Touloupis is the owner of Ted's. But when the pandemic hit, it could only sell takeout orders.īEBA TOULOUPIS: Our business went from, like, 200-plus people a day to 30 actually, the worst of it, probably 10. Ted's Restaurant in Birmingham, Ala., has been serving cafeteria-style Southern cooking for almost 50 years. In participating regions, you'll also hear a local news segment to help you make sense of what's going on in your community. Sacha Pfeiffer and Austin Fast of NPR's Investigations team looked into how the program failed to be as stringent as the government promised.

Meanwhile, the majority of the loans that remain unforgiven belong to the smallest businesses, companies the program was most meant to help. That means many loans have been forgiven to businesses that flourished during the pandemic or to fraudsters who took advantage of the lax system. Now, the overwhelming majority of those loans have been forgiven with very little scrutiny.

It issued about $800 billion in potentially forgivable government loans to keep workers employed during COVID shutdowns.

Many Undeserving Borrowers Applied for PPP Loans That Have Now Been Forgiven : Consider This from NPR The Paycheck Protection Program (PPP) was designed to soften the financial impact of the pandemic for small businesses.

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