Some government contractors took out forgivable loans from the Paycheck Protection Program even as they were paid for work during the coronavirus pandemic
WASHINGTON—Some government contractors took out loans from the Paycheck Protection Program even as they were paid for government work during the pandemic, a Wall Street Journal analysis shows.
The forgivable loans were a lifeline for thousands of hard-hit businesses whose revenue evaporated this spring. Many contractors also judged themselves eligible even though they were working on active government projects, according to an analysis of recently released data on PPP borrowers and other records.Black small-business owners have faced hurdles accessing the Paycheck Protection Program.
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