NPR: Why the high forgiveness rate of PPP loans is troubling to many people

[Yonnie3]

7. Our small family business got a loan

It was forgiven.

Our business provides live event audio and lighting as well as custom cases and cabling. The business's gross went from the middling 6 figures to under 25,000. It was able to start booking a little work in streamed events later in the year.

The business was saved by the loan. It would have been evicted and lost all the equipment. There is another loan (disaster relief?) loan that is being repaid.

One must be careful not to paint these loans and the recipients with too broad a brush.

I retired from the business when the cancellations for COVID began. I personally got nothing at all from the loan or from the business after the shutdown.