Washington, D.C. (January 29, 2021)—This week, The Washington Post published a story highlighting how independent franchises of McDonald’s and Subway, among others, received Paycheck Protection Program (PPP) funding—framing the tale in a way that suggested the financial lifeline went to corporate giants. The story attempts to distort the truth by linking billions of dollars in PPP funding to a handful of corporate brand names when in reality that money was distributed among thousands of independent franchise businesses with an average loan amount of roughly $200,000.
Alfredo Ortiz, President and CEO of the Job Creators Network, released the following statement:
“The Paycheck Protection Program (PPP) successfully preserved millions of jobs and helped the country avoid the worst-case economic scenario. The Washington Post’s portrayal of the financial relief program is lazy reporting that doesn’t depict the full picture. The architects of the PPP and the bipartisan group of lawmakers who voted in favor of the plan understood that franchises are largely independent of their corporate brand names and operate as true small businesses. Regardless of the name on the door, these businesses employed thousands of Americans and not only needed but were entitled to a lifeline after state and local governments imposed strict lockdown measures. Perhaps the reporters at The Washington Post don’t understand the nuances of the franchise system because they attended the same business school as AOC. In the end, the most important thing is that jobs were saved.”