Paycheck Protection Program
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.
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.
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.
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.
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.
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.
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.
U.S. Confidence Starts to Rebound
Finance executives are more optimistic about the domestic economy, but they expect a slow recovery.
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.
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.
Watchdog Warns of ‘Significant’ PPP Fraud Risk
The GAO says "minimal" underwriting standards left the $670 billion small business rescue program vulnerable to fraud.