The Small-Business Aid Program Has Been a Fiasco [The New York Times]
Potbelly Corporation (PBPB)
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Source: The New York Times
When the federal aid package for small businesses known as the Paycheck Protection Program was announced last month, it seemed to offer a lifeline for modest enterprises in dire need of help because of the coronavirus crisis. Passed by a bipartisan majority in Congress, the program offered $349 billion in forgivable loans — essentiallybridge loansmoral hazardBut despite good intentions, the program has been a fiasco. It has replicated much of the existing unfairness of the United States economy and has created more resentment than relief. Intended to help the small businesses that give the country much of its character and livelihood, it has helped, more than anyone wants to admit, big chains and medium-size enterprises.What your average neighborhood preschool needs now is $35,000 or so. But though 74 percent of theapproved loansgot $20 milliondata self-reported by small businessesAs Congress negotiates funding to replenish the program, it should not blindly add more money to a flawed
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PBPB
Earnings
- 8/6/25 - Beat
PBPB
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- 10/23/25 - Form POS
- 10/23/25 - Form POS
- 10/23/25 - Form POS
- PBPB's page on the SEC website