Paycheck Protection Program

Pension Benefits Guaranty Corporation inspector general

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(AP Photo/Wayne Partlow)

Shown is a portion of a Small Business Administration Paycheck Protection Program Borrower Application Form, Tuesday, April 21, 2020 in Washington. The Paycheck Protection was supposed to be a lifeline for small businesses, helping them stay afloat and keep their employees on the payroll during the coronavirus pandemic. But guidelines from the Small Business Administration say that businesses are ineligible if someone who owns at least 20 percent of the company is incarcerated, under indictment, on probation or parole or had been convicted of a felony within the last five years. Ineligible would-be applicants and advocates say the restrictions are a slap in the face for those who have served their time, especially from an administration that has trumpeted second chances. (AP Photo/Wayne Partlow)

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Agency Oversight

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SBA may be going too far trying to prevent PPP fraud

Businesses who took [Paycheck] Protection Plan money to tide them over through the early months of the pandemic have a reckoning. The Small Business Administration…

Congress

Contagion of fraud: PPP exploits designed to bypass ID verification

Commentary

In the face of COVID-19, members of the U.S. government have scrambled to offer programs that can prop up both individuals and companies, one of which is the Paycheck Protection Program (PPP). But often, where there is a crisis, there are fraudsters waiting in the wings to exploit weaknesses. PPP is no different.