Loopholes In Small Business Relief Program Allowed Thriving Companies To Cash In

Small and struggling. Those were the companies meant to be helped by the Paycheck Protection Program, which offers loans to small businesses clobbered by the shutdown of the economy.

The program has helped many such companies. But the law's fine print didn't close all loopholes. Large companies, we now know, got loans. And, now it appears that companies didn't have to be struggling to win a loan, either.

When officials with Chembio Diagnostics heard about the Small Business Administration's Paycheck Protection Program, they jumped at the chance to get a share of the public money.

And they got it: nearly $3 million.