The Paycheck Protection Program, the federal government’s ambitious effort to keep workers at small businesses off the unemployment rolls through the worst of the pandemic, has provided a financial safety net to more than four million companies, the New York Times reported. For many, the money was a lifeline. But the Covid-19 pandemic still has many cities shut, consumers’ habits have changed and recharging the economy may take years. Small companies, which employ nearly half of America’s workers who don’t work in government, typically have thin margins and scant savings. Some fear they won’t survive without further help. Even for those who got help, the program’s rollout was messy and chaotic, and Congress is arguing over proposed changes. The program offered small companies a loan that would be converted to a grant if they used most of the money for eight weeks of payroll. The earliest loan recipients are near the end of their eight-week relief period.
