Small businesses expect to fail. Here’s what will happen to their PPP loans.

Small businesses expect to fail. Here’s what will happen to their PPP loans.

Jovita Carranza, head of the Small Business Administration, listens during a roundtable discussion with governors and small-business owners.

Alex Wong/Getty Images

Millions of small businesses have gotten federal aid to help weather the recession caused by the coronavirus pandemic.

Despite that relief, many don’t expect to survive the crisis.

Entrepreneurs who close their doors may be…

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