New York City small businesses got disproportionately fewer loans from the federal government’s Paycheck Protection Program than parts of the country that weren’t as hard hit by the coronavirus pandemic, a city comptroller report says. Only 12% of the roughly 1.1 million employee-based and nonemployer businesses in New York City received a PPP loan, according to the report set to be released Wednesday. By comparison, more than 20% of businesses in states that were less economically affected by the pandemic—like North Dakota,...

Source: Wall Street Journal July 15, 2020 18:25 UTC