The Problem With The Paycheck Protection Program : Planet Money There's a brand new government program with $349 billion in aid for small businesses. The problem? It was thrown together in a week. | Subscribe to our weekly newsletter here.
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Episode 990: The Big Small Business Rescue

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Episode 990: The Big Small Business Rescue

Episode 990: The Big Small Business Rescue

Episode 990: The Big Small Business Rescue

  • Download
  • <iframe src="https://www.npr.org/player/embed/832149266/854900978" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Christopher Occhicone/Bloomberg via Getty Images
A sign reads "We Will Be Closed. Sorry. I Hope you guys stay safe" outside a store on Metropolitan Avenue in the Queens borough of New York, U.S., on Tuesday, April 7, 2020. Photographer: Christopher Occhicone/Bloomberg via Getty Images
Christopher Occhicone/Bloomberg via Getty Images

Over this past week, America's small businesses have been looking for relief and economic security. Their best bet: A brand new government program with $349 billion worth of support.

The Paycheck Protection Program, or PPP, was designed for businesses that employ fewer than 500 people. Every business can ask for enough money to cover two and half months worth of payroll. The problem is that this program, meant to save the economy from collapse, is untested. It was thrown together in a week, and the launch has been a mess.

The big question: Can the government come up with a system to get massive amounts of money to the right people before millions of businesses close, forever?

Music: "Mr. Graves" and "Street Model."

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