The U.S. launched the Paycheck Protection Program in April 2020 to save jobs and businesses from the worst effects of the pandemic. Today on the show, a post-mortem on the controversial program and whether it fulfilled its objective. Also, we hear from one company that voluntarily paid back its PPP loan — with interest — even though it could have qualified for forgiveness.
Related episodes:
Could cash payments ease recessions? (Apple / Spotify)
Small banks' corona crunch
The big small business rescue
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
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