Heard on the Street – here’s what we were reading last week:
Where the Small-Business Relief Loans Have Gone: Analyses of government data show that the PPP program allowed many of the earliest funds to go to parts of the country that were not as hard hit by the coronavirus, as well as to a small number of companies seeking millions in assistance.
Small Banks ‘Punched Above Their Weight’ for Paycheck Protection Program: Banks with less than $1 billion in assets hold just 6 percent of all the money in banks in the U.S., but they and other small lenders approved 20 percent of the Paycheck Protection Program loan dollars that went out in the first round.
Here’s How The Small Business Loan Program Went Wrong In Just 4 Weeks: Frustrations have been common since the rollout of the small business rescue program. Several problems plagued the PPP in the first round when the program ran out of money and also the shaky launch of the second round.