More than 4,000 borrowers received duplicate PPP loans in 2020, according to IG report Follow Us
Question of the Day President Biden toured Smith Flooring Inc. in Chester, Pennsylvania, on Tuesday and met with owners Kristen and James Smith. Smith Flooring was one of the businesses that received a Paycheck Protection Program loan last year. Mr. Biden said the PPP . more > By David Sherfinski - The Washington Times - Tuesday, March 16, 2021
Lenders made duplicate Paycheck Protection Program loans last year to more than 4,000 borrowers totaling about $692 million, the Small Business Administration‘s inspector general has found.
The SBA said it is working to claw back any improper payments. Meanwhile, Congress is rushing to sign off on a two-month extension of the popular loan program as soon as this week.