Trump Lets Down Small Businesses With Botched Rollout
April 28, 2020
For the second time in a span of the month, the Trump administration botched the rollout of its small business loan program.
The Trump administration once again botched the PPP rollout, which was riddled with glitches, and crashed almost immediately.
NPR: “Small Business Loans Site Crashes On First Day Of Reopening”
Bloomberg: “Gears Jammed Again During Relaunch of Small-Business Relief Program”
Washington Post: “Trump administration’s small business rescue has a rocky rollout. Again.”
Wall Street Journal: “The government on Monday resumed taking applications for its $660 billion aid program for small businesses hit by the fallout of the coronavirus outbreak—and with the resumption came a fresh chorus of complaints over delays and glitches in the process.”
In the first round of loans, many small businesses struggled with the process to get loans or weren’t able to get any loans at all.
“The application said that we would have funding within three days, and that didn’t happen… I still haven’t seen a dime.” – Washington small business owner
“My question is, What was wrong with the first application submission?” – Massachusetts small business owner
“We applied the minute the portal went live. We did everything right. How come we weren’t at the top of the queue?” – California small business owner
“I lost it. How is it possible that Shake Shack and many other mega-chains got millions of dollars, and small restaurateurs like me, who collectively provide jobs for millions of people, were left with nothing?” – New York small business owner
“We had all our paperwork ready to go and submitted our applications on the very first day they were accepting them, and we’re still processing.” – Virginia small business owner
Meanwhile, big corporations and well-connected companies got the loans intended for small businesses instead.
CBS News: “Paycheck Protection Program billions went to large companies and missed virus hot spots”
Associated Press: “Publicly traded firms get $365M in small-business loans”
NBC News: “Firms with Trump links or worth $100 million got small business loans”
CBS News: “Phunware, a data firm for Trump campaign, got millions in coronavirus small business help”
GQ: “One Trump Donor’s Hotel Companies Got $96.1 Million Meant for Small Businesses”