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by binary_slinger 490 days ago
Many sole proprietorships registered and individuals in my area have these loans. I suspect this was a major contributor to inflation.

For example, a neighbor who owns several franchised restaurants received a few million in PPP loans. But during COVID he also bought a Cirrus Vision Jet. Very suspicious.

The PPP loan program is a borrower self-certified program. Meaning the gov't did absolutely nothing to ensure funds actually went to payroll.

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In my area, US attorneys recently went after someone for misuse of PPP money and got a judgemental against him. The person who turned him in got a big, fat reward.