I-Team: Are PPP business loans worth the effort of applying?

I-Team

CHICOPEE (WWLP) – The COVID-19 pandemic directly impacted thousands of businesses across the country. In an effort to provide financial support the federal government created the Paycheck Protection Program (PPP) to help keep businesses open, and their workforce employed and insured.

The 22News I-Team examined records from the U.S. Small Business Administration (SBA) and found dozens of Massachusetts small businesses got PPP loans worth less than $500. Some of the smallest companies are getting the smallest loans, including a local business that got just $72 dollars.

Watch the 22News I-Team’s report on which local businesses received PPP loans and for how much, and if it was worth the effort to apply, Thursday on 22News at 6pm.

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