The buy now, pay later stocks storming the ASX drew on America's small business lifeline, the Paycheck Protection Program, to obtain potentially forgivable loans targeted at struggling delis, salons and doctors to avert devastating job losses at the height of COVID-19, US Treasury disclosures reveal.
Sezzle, Splitit and Zip's QuadPay are among several Australian or US-Australian companies that joined Tito's Restaurant in San Antonio, Texas, and Gulf Coast Plumbing in Tampa, Florida, and hundreds of thousands of other businesses in accepting relief.
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Vesna Poljak was The Australian Financial Review’s companies editor.
