[YeBanKo]

$755 billion was forgiven. That is roughly $2.5K per person, assuming US population of 300 million.

[downrightmike]

Almost all the loan availability were spoken for within hours. The grifters got there first, and the people who really needed the help often got stiffed. The Catholic Church took PPP loans and used it to pay off all the lawsuits from their priests raping kids.

https://www.wmlawyers.com/2020/07/sex-abuse-victims-outraged...

[joenot443]

I’d posit that $3.5m is a drop in the bucket when compared to the $600 _billion_ budget of the program itself. Linking to a law firm blog isn’t doing any favors if you’re trying to present yourself as objective here. It seems disingenuous and pretty transparently ideologically motivated to try and make a shaky connection to pastor abuse, truthfully I think you can do better.

[Dalewyn]

>and the people who really needed the help often got stiffed.

Just one anecdata, but we (family business) were "people who really needed the help" and got approved for PPP, both times. You needed to be fairly timely on applying because of the absurd demand, though.

We had to file paperwork including our payroll, income/loss sheets and more with our bank (not SBA) who actually did most of the groundwork because any PPP loan not forgiven is on the bank's dime.

[blululu]

So like $2500 per person? Another round of stimulus checks would have been better

[lotsofpulp]

The purpose of running the money through employers via PPP was to ensure the socioeconomic rankings didn’t change, so that employees still needed their employers.

Giving everyone more cash with no strings attached would have given them more negotiating power against employers.