In total, about 11 million checks were written. About three quarters of the PPP money ultimately went to the top fifth of all U.S. households. Construction, technical services, manufacturing and healthcare made up roughly half of the loans that had been approved.
As the coronavirus pandemic disrupted business in the US, the government sent billions of dollars to people and businesses that were affected. That led to an epidemic of financial scams.
This episode was produced by Jon Ehrens, fact-checked by Serena Solin and Tori Dominguez, engineered by Paul Robert Mounsey, and edited by Matt Collette and Noel King, who also hosted.
Transcript at vox.com/todayexplained
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