Episode Details

When Congress passed the 2.2 trillion dollar CARES Act in March 2020, the mission was simple: get money into people's hands, and get it there fast. Two programs, in particular, opened the floodgates: The Paycheck Protection Program, or PPP, and the Economic Injury Disaster Loan program, known as EIDL. These programs were supposed to be a lifeline. PPP offered loans to small businesses to keep their workers on the payroll—loans that could be forgiven. EIDL gave low-interest loans to help businesses ride out the economic disaster. Combined, they represented nearly a trillion dollars in aid.

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