Paycheck Protection Program


Paycheck Protection Program Report

May 2020

Report summary

Key Takeaways

  • Across metrics, Small Business Owners (SBOs) are more aware and favorable towards loan programs such as PPP than adults overall: Nearly two-thirds of SBOs have heard “some” or “a lot” about PPP, compared to less than half of adults; SBOs are additionally 24 points more likely than the general population to be able to name a bank processing PPP applications.
  • SBOs are more likely to say that PPP has been helpful: Half (51%) of SBOs say that PPP is having a positive impact on American workers, and 45% say that it is having a positive impact on the U.S. economy.
  • However, SBOs are also more likely to note inequity in the distribution of PPP loans: 55% of SBOs say that PPP will have a positive affect on businesses with over 200 employees over the next year, compared to only 47% who say the same about businesses with 10 or fewer employees. SBOs, especially those with fewer than 100 employees, are in favor of the government prioritizing lending to smaller businesses over larger ones.
  • Most adults and SBOs agree that large companies and institutions which have received money from PPP should return it, regardless of whether the money was legitimately obtained: Returning the money can have positive implications for a company’s image: slightly over half (53%) of adults would have a more favorable view of a company or institution which decided to return PPP money after facing backlash.


Two polls were conducted between April 30-May 3, 2020 among a national sample of 2,200 adults each. Unless otherwise indicated on the slide, the data for each question comes from the stacked sample of 4,400 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, educational attainment, gender, race, and region. Results from the full survey have a margin of error of plus or minus 1percentage point.

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