Post by GUESTBOT on Feb 15, 2023 15:57:10 GMT -5
The federal government will not even attempt to recover some coronavirus-related loans that did not meet the conditions for forgiveness, in what could amount to the greenlighting of theft from an $800 billion program.
The Small Business Administration (SBA), which administered the pandemic aid Paycheck Protection Program (PPP), said it will not seek to collect on loans that should have been paid back, but were not, as long as the amount is $100,000 or less. The vast majority of the 12 million loans given out in 2020 and 2021 were under $100,000.
The Small Business Administration (SBA), which administered the pandemic aid Paycheck Protection Program (PPP), said it will not seek to collect on loans that should have been paid back, but were not, as long as the amount is $100,000 or less. The vast majority of the 12 million loans given out in 2020 and 2021 were under $100,000.