Attorney General James Fights for Access to PPP Funds for Small Businesses

Posted to Applied Web NY on Wed, 05/06/2020 - 19:37

NEW YORK – New York Attorney General Letitia James and a coalition of 23 additional attorneys general today called for key changes to the Paycheck Protection Program (PPP) to ensure that funds are distributed fairly and equitably to the small businesses that were the originally intended recipients of the loans. In a letter to Congressional leadership, Attorney General James and the coalition express concern that the program — while created to help struggling small businesses survive the economic fallout of the coronavirus disease 2019 (COVID-19) public health crisis — has been implemented in such a way that funds have been excessively distributed to large, well-connected corporations. The coalition asserts that both the first and second rounds of funding with this program have left many of the hardest hit small businesses across the country underserved.