Several small businesses opposed this requirement. Owners of beauty salons, business establishments serving food and drink and additional enterprises who have had to shutter say they required the cash more for upkeep, including fees paid for use.
The agency did not talk with WSJ on the inspector general’s verdict. But the inspector general contained the agency’s reply to the report that the SBA was requiring 75% of Paycheck Protection Program credits go toward salaries; the SBA said it did it “in light of the act’s overarching focus on keeping workers paid and employed.”
The inspector general reported the information in a reply to Sens. Chuck Schumer’s (D-N.Y.), Ben Cardin’s (D-Md.) and Sherrod Brown’s (D-Ohio) penned questions concerning the Paycheck Protection Program, which has been in the middle of the United States government’s small-business assistance work. It presents credits to small businesses to pay for salaries and additional upkeep costs for about eight-and-a-half weeks.
Mr. Schumer stated that the inspector general “makes clear that the Trump administration must immediately fix the Paycheck Protection Program to help the truly small businesses that have so far not received the help they need.”
