How the Paycheck Protection Program went from good intentions to a huge free-for-all

An NPR analysis of data released Jan. 8 by the Small Business Administration shows the vast majority of Paycheck Protection Program loans have been forgiven, despite rampant fraud in the program. (Getty Images/Mark Harris for NPR)

When the Paycheck Protection Program launched during the pandemic shutdowns of spring 2020, it immediately became a chaotic free-for-all.

Called PPP for short, the program offered simple-to-get, potentially forgivable government loans to small businesses. Yet billions of dollars went to companies owned by wealthy celebrities, including Tom Brady and Khloe Kardashian, and companies that thrived during COVID, like many manufacturing and construction firms.