Search
-
-
Preventing fraud and identity theft
… and fraud response All lenders who originate loans in PPP have an obligation to mitigate fraud, waste, and abuse in … programs or activities also to the following mailboxes: PPP fraud referrals ( PPPFraudReferrals@sba.gov ) ID theft … ) Asset Seizures and Forfeiture Notices ( PPP.ACH.Inquiries@sba.gov ) Request SBA review an outstanding … -
SBA’s Paycheck Protection Program Loan Review Processes
… (SBA) processes for reviewing Paycheck Protection Program (PPP) loans for eligibility and forgiveness. SBA’s online loan … payment promptly creates uncertainty for borrowers and PPP lenders who are unsure if SBA will forgive their loans. … indicator of fraud. Borrowers who fraudulently obtained a PPP loan are unlikely to apply for loan forgiveness. We … -
SBA Regional Administrator Rob Scott’s Statement on the Paycheck Protection Program’s Second Round of Funding
… part of that effort, from 4 to 11:59 p.m. EDT today, SBA’s PPP loan processing system is only open to lending … entry. “As of this evening, more than 960,000 approved PPP loans totaling nearly $90 billion had been processed via … less than $50 billion in assets have approximately 793,000 PPP loans approved for $63 billion. The average overall PPP … -
The Small Business Administration’s Implementation of Recommended Controls and the Economic Aid Act
… controls related to the Paycheck Protection Program (PPP). The Economic Aid Act continued assistance under the PPP for small businesses financially affected by the ongoing coronavirus pandemic. We found SBA implemented the PPP in accordance with the Economic Aid Act with two … -
SBA and Treasury Department Announce $10 Billion for CDFIs to Participate in the Paycheck Protection Program
… of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development … These dedicated funds will further ensure that the PPP reaches all communities in need of relief during the … for President Trump. “The forgivable loan program, PPP, is dedicated to providing emergency capital to sustain … -
SBA and Treasury Announce Release of Paycheck Protection Program Loan Data
… the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made. “The PPP is providing much-needed relief to millions of American … -
Joint Statement by SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin Regarding Enactment of the Paycheck Protection Program Flexibility Act
… the enactment of the Paycheck Protection Program (PPP) Flexibility Act: “We want to thank President Trump for … implementing these legislative amendments to the PPP. These modifications will implement the following … for loan forgiveness. Borrowers who have already received PPP loans retain the option to use an eight-week covered … -
COVID-19 Resources for Small Businesses
… impact from COVID-19 include: Paycheck Protection Program (PPP) : Accepting new applications through August 8, the PPP is an SBA-backed forgivable loan that has helped small … to pay their employees during the COVID-19 outbreak. The PPP Flexibility Act , passed last month, has extended the … -
Nine2Five Overcomes Economic Obstacles with SBA Assistance to Win Franchisee of the Year 2022
… Shortland heard about the Paycheck Protection Program (PPP) and the Targeted Economic Injury Disaster Loan (EIDL) Advance. He applied for PPP at his local bank St. Johns Bank Trust and Company in St. Louis. It took three-weeks for his $86,000 PPP application to be approved and funded. His business was … -
Training on demand
… - March 12, 2024 for the 504 loan program (topics include PPP and EIDL, Size Standards update, and SOP 50 10 7.1 … -
Two People Sentenced for Stealing Nearly $300,000 in COVID-19 Relief Money
… One such program, the Paycheck Protection Program (PPP), provided government-backed funding to small businesses … other economic circumstances caused by the pandemic. The PPP and EIDL programs have provided billions of dollars in … at least $292,000 in CARES Act funding through the PPP and EIDL programs and submitted fraudulent applications … -
International Construction Expert Puts Down Entrepreneurial Roots in Omaha, Nebraska
… Loan (EIDL) and two rounds of Paycheck Protection Program (PPP) funding in 2020 and 2021 under the CARES Act. “COVID-19 … go away. I didn’t have any opportunities to bid on. The PPP allowed for me to payroll everyone even though I had no … my staff to stay together and not go on unemployment. Both PPP loans were forgiven. It was a blessing – it was very, … -
Celebrating Hispanic entrepreneurs’ growth, resilience
… entrepreneurs. Between the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan program, we have … in underserved communities could access the forgivable PPP loans. As a result, nearly 70 percent of all PPP loans went to firms with fewer than 10 employees – an … -
Former SBA Employee from South Florida Headed to Federal Prison After Defrauding COVID-19 Relief Programs
… schemes to defraud the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program, as well as … On February 19, 2021, Chapman submitted an online PPP loan application with the lender on behalf of DA TRAP, … also conspired with others to submit false and fraudulent PPP loan applications on their behalf. Six defendants were … -
READOUT: SBA Administrator Isabella Casillas Guzman visits Kansas City
… pandemic thanks to the SBA’s Paycheck Protection Program (PPP). Administrator Guzman traveled to 1889 Pizza Napoletana … Fund (RRF) award, and the Paycheck Protection Program (PPP). On Friday, October 14, 2022, the Administrator’s day … Kansas businesses. The El Centro corporation secured a PPP loan during the pandemic. Administrator Guzman and Sen. … -
SBA Shares Resources for Black-Owned Businesses During National Black History Month
… consider applying for the Paycheck Protection Program (PPP) or an Economic Injury Disaster Loan (EIDL). The PPP, which relaunched last month, is intended to help … paying other essential bills. You can get matched with a PPP lender via Lender Match – a free online tool that … -
SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application
… of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions … inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and … during the eight-week period after receiving their PPP loan Step-by-step instructions on how to perform the … -
Joint Statement by Administrator Jovita Carranza and Secretary Steven T. Mnuchin on the Success of the Paycheck Protection Program
… on the success of the Paycheck Protection Program (PPP): “The Paycheck Protection Program is providing critical … of millions of hardworking Americans. “Since Round 2 of PPP loan processing began on April 27, 2.2 million loans have … businesses which surpasses the number of all loans made in PPP Round 1. The total value of these 2.2 million loans is … -
Joint Statement by Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Review Procedure for Paycheck Protection Program Loans
… statement today on the Paycheck Protection Program (PPP): “The Paycheck Protection Program is providing critical … that have appropriately reevaluated their need for PPP loans and promptly repaid loan funds in response to SBA … of an important certification required to obtain a PPP loan. To further ensure PPP loans are limited to …