The small businesses that received government aid weren’t always the ones with the greatest needs or the best chances to survive the pandemic.
The small businesses that received aid under the federal government’s $350 billion rescue program weren’t always the ones with the greatest needs or the best chances to survive the coronavirus pandemic. Whether a firm made the cut often came down to how and where it banked.
Some recipients were publicly traded companies that already had significant loans with big banks. Others were customers of community banks that had long made loans through the Small Business Administration, which is guaranteeing loans made through the government...
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