The Paycheck Protection Program (PPP) is a $953 billion well-known program h created for the purpose to provide loans as part of Coronavirus aid, small business set up, self-employed workers, nonprofit organizations, sole proprietors. Small self-made companies like restaurants, hair salons are expected to benefit from the PPP loans so that their employees do not leave the workplace and support them throughout the pandemic. This program is not designed for reality television workers or starts to receive money from the government to start assisting employment.
But it has come to notice that a bunch of Bachelor candidates is facing backlash for allegedly acting inappropriately. This time, the drama revolves around the usage of the federal government’s Paycheck Protection Program, which was created to give forgiving loan payments to small companies who were floundering during the epidemic. The PPP program, as it is affectionately known, was designed to be adaptable.
Stars of the Bachelor reality television show were among many who took advantage of it, igniting new outrage over famous, supposedly well-off individuals obtaining federal cash meant for beleaguered startups. This story follows previous reports of celebrity-owned restaurants like Shake Shack and Ruth’s Chris, as well as enterprises managed by Kanye West, Reese Witherspoon, and Tom Brady, among others.
In 2021, PPP will have virtually accomplished its goal.
According to a director of communications for the Small Business Administration, the Biden presidency has incorporated initiatives to boost the program more sustainable, noting that “PPP loans in 2021 averaging nearly $42,000, an accurate measure of specific target remedy to the lowest small businesses,” and that “32 percent of PPP loan payments went to Low-and-Moderate Income (LMI) communities.”
Many other Bachelor alums received PPP funding, including Tayshia Adams, the current season’s host and the latest lead on The Bachelorette. Colton Underwood, who starred in the 2019 season of The Bachelor, received an $11,355 loan for his charity. Arie Luyendyk, who starred in the 2018 season of The Bachelor, received a loan of $20,830.
Did the show harm small start-ups?
It’s questionable whether Bachelor contestants’ activities harmed other smaller businesses. Discovering made have come to the conclusion that the PPP program has benefitted those who were rich while it failed to provide the funds who were in need as the sole purpose of the program was to provide funding to small companies who were in need. While improvements earlier this year were beneficial, they arrived later in the process, after a large amount of the PPP monies had already been distributed.
According to Brian Pifer, a policy specialist with Small Business Majority, “there were a number of faults in the way programmes were created that excluded businesses.” “People who had connections, attorneys, or accountants were in front of the line.”