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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. … -
Management Alert Paycheck Protection Program Loan Recipients on the Department of Treasury’s Do Not Pay List
… Disease 2019 (COVID-19) pandemic. Because of complaints of fraud received by the OIG, we collaborated with the U.S. … Treasury’s analysis showed approximately $3.6 billion in PPP loans to potentially ineligible recipients. Expedited … establish more effective oversight controls related to the PPP, we recommended the agency promptly identify PPP loans … -
COVID-19: Data Sharing Project Finds Billions Paid to Same Likely Fraudsters Under Both the Unemployment Insurance and Economic Injury Disaster Loan Programs
… OIG respectively began reporting on heightened risks of fraud and found similar fraud indicators. The two OIGs found that billions of dollars … an opportunity to collaborate on data matching to mitigate fraud. SBA OIG made three recommendations – two to facilitate … -
Fairmont Businesses Uses Paycheck Protection Program to Navigate Storm
… Loan(EIDL) Advance and Payroll Protection Program (PPP) to help her through the current uncertainty of the … knowledge she needed to apply for the EIDL Advance and the PPP. Following the training Maher worked with her accountant … and lender, Clear Mountain Bank, and was able to get the PPP in eight business days. “The process was easy and … -
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 … -
Joint Statement by SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin on the Resumption of the Paycheck Protection Program
… today on the resumption of the Payroll Protection Program (PPP): “We are pleased that President Trump has signed into … “The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EDT from … to account for changes made by the legislation. “The PPP has supported more than 1.66 million small businesses and … -
7(a) Loan Approval for Borrowers with Unresolved COVID-19 Pandemic Loan Compliance Issues
… which included screening for Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster Loan (EIDL) hold … loans, totaling $4.5 billion, where the borrower had a PPP loan or COVID-19 EIDL with an unresolved eligibility or potential fraud issue. SBA stated it resolved hold codes for 3,015 of … -
SBA and Treasury Announce New and Revised Guidance Regarding the Paycheck Protection Program
… and revised guidance for the Paycheck Protection Program (PPP). This guidance implements the Paycheck Protection … convictions. To implement the PPPFA, SBA revised its first PPP interim final rule, which was posted on April 2, 2020. … The period remains 5 years for felonies involving fraud, bribery, embezzlement, or a false statement in a loan … -
COVID-19 Economic Injury Disaster Loan Applications Submitted from Foreign IP Addresses
… several layers of controls to prevent or reduce fraud from foreign countries, individuals at foreign IP … from foreign IP addresses are an indication of potential fraud that may involve international criminal organizations. … officials were aware of and concerned about the potential fraud from overseas. We recommended the agency thoroughly … -
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 … -
Lincoln Business Owner Uses Paycheck Protection Program Loan to Provide for his Employee Family
… him about the newly created Paycheck Protection Program (PPP) from the U. S. Small Business Administration . This … to keep their workers on the payroll. Mike received a $2M PPP loan through Union bank that covered his payroll costs … and thinking holy smokes, how can SBA possibly handle the PPP? It's going to be months. We're going to be out of … -
Coed Sportswear Pivot to New Opportunities with the Help of the NH SBA
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Supporting Entrepreneurs & Workers with Disabilities
… the pandemic, we launched the Paycheck Protection Program (PPP), and it has been one of the most successful disaster … response efforts in history. Alex received a forgivable PPP loan to help keep her school open and her 75 staff on payroll. “If we didn’t get the PPP and I had to lay off or furlough my staff or not provide … -
Small Businesses Are Driving the Trump Recovery
… in American history – the Paycheck Protection Program (PPP). In just over four months, the program approved more … with capital. As a result, nearly 70 percent of all PPP loans went to small businesses with fewer than 10 … the average minority-owned firm has eight employees. PPP loans helped keep more than five million small businesses … -
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, … -
SBA Elevates Women-Owned Small Businesses
… Department, launched the Paycheck Protection Program (PPP), which has helped stabilize hundreds of thousands of … When COVID-19 struck, Superstition Meadery applied for a PPP loan, which helped them cover payroll, rent, and more. … Person of the Year. Omni applied for and received a PPP loan, without which, according to Molly, she would not … -
Vulnerability disclosure policy
… to constitute “authorized” conduct under the Computer Fraud and Abuse Act. If legal action is initiated by a third …