Some Small Businesses Received As Little As $1 in Original PPP LoansAs the government readies another round of Paycheck Protection Program funds, plenty of owners are still perplexed at their minuscule initial sums, 'New York Times' reports.

It's been the better part of a year (let that sink in) since the federal government approved itsfirst wave of Paycheck Protection Program (PPP) fundsto aid small businesses in the pandemic. And it's no secret that the initial rollout was flawed, with publicly traded companies exploiting loopholes and ultimately beingpressured to returnmulti-million-dollar sums; well-resourced private organizationslikewise plundering the kitty; opportunistic individualsmisusing allocated money; fraudsters withno legitimate claimsto the entities on their application making hay; and many billions of earmarked loans going unclaimed after potential recipients got spooked overforeboding forgiveness parameters.

But as the latest round of$284 billion in additional PPPstimulus (a provision ofCongress' 11th hour, $900 billion spending packagethat passed just before the New Year) finds its way to lenders and, eventually, small-business owners, some folks are hoping they stand to gain more than a single red cent — literally.

TheNew York Timesreportsthat, while the Omni Hotels of the world deployed their considerable accounting savvy to squeeze PPP to its limits (andallegedly hoard the gains), a range of small-business owners and self-employed workers were all but stymied. That includes aTexas chiropractic servicethat received $1 dollar in aid and aMinnesota-based freelance photographerwhose federal loan amounted to $95, per theTimes.

Related:Which Public Companies Have Returned Their SBA PPP Loans? (Updated)

While the Small Business Administration didn't respond to theTimes' requests for comments, the disparate windfalls seem to have stemmed from language in the original rollout that privileged companies with employees on payroll and/or demonstratable profits rather than sole proprietorships with tighter ranks and margins.

Moreover, smaller lenders willing to liaise with these micro-loans typically received an almost negligible, proportionate fee for their efforts, rendering PPP all but inert to genuinely self-sufficient businesses and independent community financial institutions.

However, there might be a glimmer of hope in this new iteration. For more information on how to navigate PPP in 2021 to a meaningful end, read狗万官方contributor Mat Sorensens's latest breakdownon the program's evolving terms.