Paycheck Protection Program

Thieves Nab $100M in Pandemic Relief Funds
Risk & Compliance

Thieves Nab $100M in Pandemic Relief Funds

The Secret Service says funds from CARES Act programs including the PPP were stolen by individuals and organized criminal networks worldwide.
By Matthew Heller | December 22, 2021
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Loan System Bugs Holding Up PPP Loans: AICPA
Fraud

Loan System Bugs Holding Up PPP Loans: AICPA

In a letter to the SBA this week, the AICPA said legitimate loan applications are being denied acceptance because they are being incorrectly flagged.
By Vincent Ryan | February 5, 2021
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PPP Reopens With $284B for Small Business Loans
Credit & Capital

PPP Reopens With $284B for Small Business Loans

The revamped COVID-19 relief program also allows some companies to apply for a second draw of up to $2 million.
By Matthew Heller | January 11, 2021
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Congress Includes PPP Extension in New Relief Bill
Credit & Capital

Congress Includes PPP Extension in New Relief Bill

PPP borrowers will also be able to deduct expenses paid for with their loans, reversing an earlier IRS decision.
By Matthew Heller | December 21, 2020
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Buffett: Small Businesses Have Become Collateral Damage, Congress Should Renew PPP
The Economy

Buffett: Small Businesses Have Become Collateral Damage, Congress Should Renew PPP

The CEO of Berkshire Hathaway said the country owes it to millions of small businesses to renew the Paycheck Protection Program.
By Lauren Muskett | December 15, 2020
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PPP “Loan Necessity” Form Causes a Stir
Regulation

PPP “Loan Necessity” Form Causes a Stir

A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA.
By Vincent Ryan | November 20, 2020
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Court Orders Release of PPP Borrower Details
Legal

Court Orders Release of PPP Borrower Details

The decision was a victory for media organizations that sued the SBA for access to data about roughly $600 billion in COVID-19 loans to small businesses.
By Matthew Heller | November 9, 2020
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Feds Net 57 People in Probe of PPP Loan Scams
Risk & Compliance

Feds Net 57 People in Probe of PPP Loan Scams

The defendants allegedly tried to steal a total of $175 million from the program, which some had feared would be a magnet for fraud.
By Matthew Heller | September 11, 2020
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U.S. Confidence Starts to Rebound
The Economy

U.S. Confidence Starts to Rebound

Finance executives are more optimistic about the domestic economy, but they expect a slow recovery.
By Lauren Muskett | September 9, 2020
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Top CEOs Urge Congress to Save Small Firms
The Economy

Top CEOs Urge Congress to Save Small Firms

More than 100 executives said small businesses need "much more significant and sustained support" than the PPP to weather the COVID-19 pandemic.
By Matthew Heller | August 4, 2020
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Will There Be a Second Round of Paycheck Protection Loans?
Working Capital

Will There Be a Second Round of Paycheck Protection Loans?

Under proposed legislation, smaller businesses would be targeted, and they would have to show a 50% revenue drop.
By Vincent Ryan | July 20, 2020
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Watchdog Warns of ‘Significant’ PPP Fraud Risk
Fraud

Watchdog Warns of ‘Significant’ PPP Fraud Risk

The GAO says "minimal" underwriting standards left the $670 billion small business rescue program vulnerable to fraud.
By Matthew Heller | June 26, 2020
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Shining a Light on Earnings Adjustments
Growth Companies

Shining a Light on Earnings Adjustments

Finance will have to make some judgments when trying to present a normalized view of ongoing financial performance.
By Jonathan Nus and Michael Tamulis | June 24, 2020
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New Bill Offers Second Loans to PPP Borrowers
Credit & Capital

New Bill Offers Second Loans to PPP Borrowers

“Congress must once again act urgently to support our most vulnerable small businesses through this crisis."
By Matthew Heller | June 19, 2020
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Senate Passes Bill Extending Time to Use Paycheck Protection Loans
Risk & Compliance

Senate Passes Bill Extending Time to Use Paycheck Protection Loans

The program has given out 4.4 million forgivable loans so far.
By Lauren Muskett | June 4, 2020
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