Abstract
We analyze how Paycheck Protection Program (PPP) funds were disbursed to minority communities in the $278 billion rebooted program in January 2021. Using administrative microdata covering all PPP loans, we find strong positive relationships between PPP loan flows to both employer and nonemployer businesses and the minority share of the population. In contrast, the relationships were negative in the 2020 first round and less positive in the 2020 second round. For employer businesses, the positive relationship was also stronger for first-draw loans than for second-draw loans. The PPP reboot appears to have been disbursed to minority communities as intended.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
