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1 Percent of P.P.P. Borrowers Got Over One-Quarter of the Loan Money

Newly released data gives the most detailed accounting yet of the pandemic aid provided to 5.2 million businesses that sought forgivable loans.

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Dozens of restaurant chains like TGI Fridays took advantage of an exception that the restaurant industry lobbied for: It made large chains eligible for aid that was intended for small businesses.Credit...Hiroko Masuike/The New York Times

By Stacy Cowley and Ella Koeze

• Dec. 2, 2020

The Paycheck Protection Program was the centerpiece of the federal government’s relief efforts to keep millions of small businesses afloat during the coronavirus pandemic. But new