“Although PPP worked through private lenders and as a result experienced relatively less fraud than EIDL experienced, it is estimated “that at least 70,000 [PPP] loans were potentially fraudulent.””
Citation: Project 2025, Section 4.5: Small Business Administration, Karen Kerrigan, page 778, paragraph 3
Context:
Is that true? Evidence is mixed on that and still being collected, but there was definitely a ton of fraud.
PPP Stands for Paycheck Protection Program, and was credited for saving millions of jobs during COVID. For more about the fraud claims, see the analysis below.
Full contextual analysis of Section 4.5: Small Business Administration here.
Categories: COVID-19, Small Businesses