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To embed, copy and paste the code into your website or blog: Four months after the expiration of the $659 billion forgivable loan relief program established by the CARES Act, the federal government has disbursed approximately 5.2 million Paycheck Protection Program (PPP) loans. 1 As discussed in an earlier alert, 2 the policy considerations underlying PPP loans make them inherently vulnerable to fraud. To facilitate rapid delivery of funds to Americans in need during recent economic shutdowns, Congress and the U.S. Small Business Administration (SBA) imposed a markedly low bar for PPP loan qu...

Monday, December 21, 2020 Four months after the expiration of the $659 billion forgivable loan relief program established by the CARES Act, the federal government has disbursed approximately $5.2 million Paycheck Protection Program (PPP) loans. 1 As discussed in an earlier alert, 2 the policy considerations underlying PPP loans make them inherently vulnerable to fraud. To facilitate rapid delivery of funds to Americans in need during recent economic shutdowns, Congress and the U.S. Small Business Administration (SBA) imposed a markedly low bar for PPP loan qualification, minimally ...