Most PPP loans forgiven with limited scrutiny
The overwhelming majority of the near-$800bn in potentially forgivable Paycheck Protection Program loans made in2020 have effectively transformed into government grants, as 91% have been either fully or partially forgiven, according to an NPR analysis of data released by the Small Business Administration (SBA) on October 2nd. At the same time, the SBA has manually reviewed only 2% of the 11.4m loans made under the program, according to Patrick Kelley, a senior official with the agency, with only 0.2% denied forgiveness. 

NPR