New York City Didn’t Get Fair Share of PPP Loans, Comptroller Report Says

Just 12% of small businesses in New York City got federal aid, compared with 20% in states much less economically harmed, a report says

New York City small businesses got disproportionately fewer loans from the federal government’s Paycheck Protection Program than parts of the country that weren’t as hard hit by the coronavirus pandemic, a city comptroller report says.

Only 12% of the roughly 1.1 million employee-based and nonemployer businesses in New York City received a PPP loan, according to the report set to be released Wednesday. By comparison, more than 20% of businesses in states that were less economically affected by the pandemic—like North Dakota,...

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