This Profitable ‘Tiny Houses’ Maker Returned Its $6.5 Million PPP Loan

WOODLAND HILLS, CA – JANUARY 23: A resident walks past a tiny home made by artist Alex Gano on . Thursday, January 23, 2020 in Woodland Hills. Julien, 28, who has been homeless for three years and living along the Ventura Boulevard corridor from Studio City to Woodland Hills, says he feels less homeless and warmer at night in his new home. The house has become controversial in the neighborhood. (Photo by Sarah Reingewirtz/MediaNews Group/Pasadena Star-News via Getty Images)

The world’s response to COVID-19 is throwing people out of work — over 26 million had filed for unemployment as of April 23, according to the New York Times.

The $349 billion Paycheck Protection Program (PPP) was supposed to go to small businesses to pay their employees for a bit over two months — and the loans will be forgiven if at least 75% of the loan — which sports a 1% fixed interest rate — is used to cover payroll costs, according to the Treasury Department. Continue reading