Congress adopted the $600 billion-plus Paycheck Protection Program (PPP) to help American small- to medium-sized businesses (SMBs) stay afloat by using forgiveness loans to keep their workers employed and cover certain overhead expenses while the economy was shut down. But while generally regarded as a sincere effort to bail out...
Report: SEC Probing Public Firms That Received PPP Funds
The U.S. Securities and Exchange Commission (SEC) has launched an investigation into publicly traded companies that received COVID-19 stimulus funds, Bloomberg News reported. Agents are looking into whether the companies’ loan applications for the Small Business Administration (SBA’s) Paycheck Protection Program (PPP) were consistent with the disclosures made to investors...
House Eases Rules On PPP Loans
A measure that would make it easier for small businesses (SMBs) to get their hands on a forgivable federal loan has easily passed the House, The Wall Street Journal reported. The bi-partisan bill answers a request from entrepreneurs who asked lawmakers to reduce the amount of the Small Business Administration’s...