As Paycheck Protection Program Runs Dry, Desperation Grows
Overwhelmed lenders and panicking borrowers are in a frenzy to grab the remaining money in the small business relief program.
George Greenfield, the founder of CreativeWell, a literary agency in Montclair, N.J., applied for a loan in March with Biz2Credit. The initial amount he was offered was less than a quarter of what he was eligible for.Credit.Ed Kashi for The New York Times
May 20, 2021, 11:17 a.m. ET
The government’s $788 billion relief effort for small businesses ravaged by the coronavirus pandemic, the Paycheck Protection Program, is ending as it began, with the initiative’s final days mired in chaos and confusion.