Weren't PPP loans meant, in part, to prevent businesses from going bankrupt? Why lower interest rates instead of doing direct cash transfers through unemployme

Weren't PPP loans meant, in part, to prevent businesses from going bankrupt? Why lower interest rates instead of doing direct cash transfers through unemployment insurance and other assistance? If a business is making $0 due to the pandemic, why would a bank be more likely to lend to them at a 1% interest rate rather than a 4% interest rate?