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PPP Loan Audits Could Affect Millions of Borrowers | JD Supra
JD Supra· 2 weeks agoThere is growing concern among PPP Loan recipients of potential audits related to the SBA’s Office of Inspector General’s estimate that up to one-third ...
SBA Provides Safe Harbor For Certifying Need For PPP Loans
The National Law Review· 2 weeks agoNew SBA guidance says PPP borrowers of under $2 million are granted safe harbor and deemed to have made required good-faith certification of necessity. Individual circumstances ...
If You File a Schedule C, Take Note: SBA Offers Guidance for Self-Employed PPP Loan Applicants
The National Law Review· 2 weeks agoThe average PPP loan amount so far has been $239,000, though the vast majority of approved loans (70%) have been for $150,000 or less. Lenders have felt ...
Federal Emergency Relief Risk Mitigation: The Paycheck Protection Program
The National Law Review· 2 weeks agoOn April 28, 2020, Treasury Secretary Mnuchin announced that the Small Business Association would be conducting a “full audit” of any loans over $2 million made pursuant to ...
Frequently Asked Questions: Paycheck Protection Program Loan Forgiveness
The National Law Review· 1 week agoOn May 15, 2020, the Small Business Administration (SBA) and the U.S. Treasury Department released their much anticipated Loan Forgiveness Application ...
Some Financial Businesses May Be Ineligible for the SBA's Paycheck Protection Program
The National Law Review· 1 week agoAt least some financial markets and funds businesses are likely precluded from applying for the Paycheck Protection Program (PPP) under the Coronavirus ...
Latest Guidance on Paycheck Protection Loan Program under the CARES Act
The National Law Review· 2 weeks agoLate in the evening on April 2, the SBA issued an Interim Final Rule on the PPP (the April 2 Rule) and published a revised Application form< ...
What the Hospitality Industry Should Know About New Regulations and Guidance for the CARES Act
The National Law Review· 2 weeks ago...issued several new questions and answers to their SBA CARES Act FAQs, including Question #40, which indicated that an employer’s ability to obtain forgiveness of a Paycheck Protection Program (“PPP”) loan under the CARES Act might not be adversely affected as a result of an employer being unable,...
Missouri woman pleads guilty to fraudulently obtaining $104K in pandemic loans
The Center Square· 1 week agoCamille Foster, 32, pleaded guilty to two counts of wire fraud on Tuesday in U.S. District Court....
Georgian to pay more than $1.3 million, serve prison time for COVID-19 relief fraud
The Augusta Chronicle via Yahoo News· 2 weeks agoHe submitted multiple fake IRS forms in support of the funding applications, falsely claimed large numbers of non-existent employees, and inflated revenues in fraudulent requests ...