WebJun 17, 2024 · Lloyd took advantage of economic relief programs administered by the Small Business Administration (SBA), including Economic Injury Disaster Loans (EIDL) and the Paycheck Protection Program (PPP). These programs were authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2024. WebFeb 8, 2024 · In January 2024, the Small Business Administration (SBA) reopened its portal for those seeking to apply for PPP loans with an additional $284 billion in loans authorized under the December 27, 2024, Economic Aid Act (see here and here for more information). As the SlideBelts settlement shows, false or misleading representations in loan ...
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WebPaycheck Protection Program (PPP) loan requires the small business applicant to self-certify a number of specific items ranging from the necessity of the loan funds to the applicant’s overall eligibility. While much has been written about the SBA’s guidance on “affiliation” rules to determine eligibility for SBA PPP loans, the WebJun 15, 2024 · The PPP was layered atop the SBA’s existing Section 7(a) loan program, through which the federal government guarantees loans issued by qualified lenders to eligible business borrowers. The PPP program temporarily relaxed several criteria for obtaining an SBA loan, greatly expanding the availability of the lending program to a wider … emily kilcrease
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WebFor example, the False Claims Act enables individuals to report PPP loan fraud by filing qui tam lawsuits. Whistleblowers in successful qui tam lawsuits for PPP fraud will receive significant compensation--cash rewards ranging from 15-30% of the total amount recovered. Read full information on the protections and rewards offered to a CARES Act ... WebMay 14, 2024 · The accused applied for the PPP loan in April. By early May, the feds were curious. Although the DOJ does not say what prompted the federal investigation, it seems … WebPPP loans must be used for payroll costs, interest on mortgages, rent and utilities. PPP loans may be forgiven if businesses spend the money on these expenses within a set … emily kight law office dublin ga