
GoDaddy CEO: The second round of PPP loans will help the smallest businesses. But more needs to be done
CNN
When the federal government announced the Payroll Protection Program a few months after the pandemic began in 2020, many microbusiness owners -- those with just one to 10 employees -- assumed they'd have little problem securing one of the interest-free loans. Many of them were disappointed.
In fact, nearly 79% of the PPP funds distributed were for loans greater than $100,000, and more than one-third of those loans were for between $1 and $5 million or greater -- much larger than a typical microbusiness owner needed to survive. One of the biggest hurdles microbusinesses faced in getting loans approved was connecting with the traditional big banks that did most of the lending.More Related News

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