From WSJopinion: Healthy companies can easily exploit Paycheck Protection Program loans meant for those forced to shut down, writes Pete Vegas
I own a food-manufacturing business with more than 200 employees that was recently awarded a $3.4 million loan through the Small Business Administration. From what I’ve observed, the Paycheck Protection Program is completely flawed and will function as a handout to companies that don’t need it. Billions of misspent dollars will never be paid back.
As a maker of food products sold in grocery stores, my business hasn’t yet been negatively affected by the Covid-19 crisis, unlike many other industries. We are an “essential service...
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