But in less than two weeks, every cent of the $350 billion was exhausted. The PPP grossly favors companies with great resources, including large conglomerates who have laid off staff, and even hedge funds and private equity firms. Large conglomerates are also allowed to count each franchise as an independent business when applying for funds. And because the program had limited funds and operated on a first-come, first-served basis, it created a race for relief in which the little guy was, as in the Great Recession, left behind.
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