Gordon Brothers, the global advisory, restructuring and investment firm, has released an article that discusses the outcome of the Paycheck Protection Program (PPP), including its impact on individuals, firms and lenders, as well as its aid for sectors most challenged by the COVID-19 pandemic.
In the article, author Alex Sutton, Managing Director and Head of Research, also provides the results of a survey of Gordon Brothers’ transactions in recent months to help illustrate the effect of PPP loans on the asset-backed lending market.
“The PPP was the single largest COVID-19-related stimulus measure to help boost the economy and provide struggling small businesses with assistance in paying their employees. With the conclusion of the program on August 8, there are many positives to reflect on, but its absence going forward will likely leave a hole in the commercial lending market that traditional lenders will be hard-pressed to fill,” noted Sutton.