The Kushner family, large chains backed by private equity, Wall Street investors, Kanye West, members of Congress, and the law firm that represented President Donald Trump during the Mueller probe were among the thousands of beneficiaries of a Covid-19 relief program aimed at rescuing struggling small businesses and keeping workers employed, according to new federal data released Monday.
While the Small Business Administration’s (SBA) data disclosure reveals just a fraction of recipients of forgivable Paycheck Protection Program (PPP) loans, critics voiced concern that large, wealthy firms were able to readily access millions of dollars in relief funds as more vulnerable companies frequently received less money than they applied for—or nothing at all.
“We cannot allow those small businesses that were grossly underfunded or disadvantaged by the program to disappear and not have their stories told and rectified.”
—John Arensmeyer, Small […]
Equity and empathy are not part of our capitalist system which we now have in place.