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Less than ten% of all of the Salary Safeguards Program funds will still be unforgiven, and a lot of those individuals belong to you to definitely-people companies – people the applying most designed to let.
We’ve been speaking this week concerning the Paycheck Shelter Program, and therefore efficiently paid back businesses to store professionals towards the payroll while in the the latest pandemic. That cash was available in the type of fund, and also the majority of those fund was indeed forgiven so much more than just 90%. That is in spite of the program becoming criticized for providing money to help you undeserving recipients, even outright scammers.
So who will be small fraction off borrowers with unforgiven PPP financing? Austin Quick and i also had been revealing on this to own NPR’s investigations party, and you will whatever you discover can get surprise your.
PFEIFFER: When i went to Chocolate Crawford at their house inside Truro, Mass., towards the Cape Cod.
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