More Confusion in SBA’s Months-Late PPP Oversight Effort
WASHINGTON, D.C. – Amid a barrage of news from the Trump administration last Friday afternoon, new reports showed that the Small Business Administration (SBA) began sending “’loan necessity’ questionnaires” targeting companies and organizations that received Paycheck Protection Program (PPP) assistance of at least $2 million — an attempt to further examine loan recipients’ eligibility for the relief dollars in a program marred by widespread abuse, misuse, and fraud.
The news comes after months of outcry from the owners of mom-and-pop businesses asking for greater clarity about exactly how the SBA would forgive loans.