A Call to Fix the Flaws of the PPP
By Tara Kerrigan Hayes For many business owners, the Payroll Protection Program sounded like a saving grace. Until they read the fine print. The forgivable loan, designed to incentivize small business owners to get employees back on payroll, was plagued with issues from the beginning. From false starts to larger companies overshadowing the smaller businesses, there was a frenzied sense of urgency to get the money before it was depleted. Then money was gone. Then there was more. Small business owners scrambled to re-apply, many with a loose understanding of how, precisely, the guidelines worked, but desperately seeking a life support to one day reopen their doors. The general requirements, according to the Small Business Association website, is that, “the loan will be fully forgiven [...]