Like so much of life these days, the Paycheck Protection Program (PPP) is unprecedented. Never before has so much money been loaned out to so many businesses so quickly. Equally astonishing is the fact that the government has agreed to forgive the loans for qualifying borrowers.
However, unprecedented also means untested, uncertain—and perhaps unfeasible. It’s no surprise that a program this big and this hastily rolled out has had numerous issues, limitations, and controversies.