Biden Signs Bills Aimed at Catching Pandemic Business Loan Cheats -
"President Joe Biden signed a pair of bills that will give the Justice Department more time to investigate and prosecute people accused of fraudulently...more
As Banks Push AI, Worry About Worsening Inequality Follows -
"AI and machine learning might amplify patterns of historical discrimination and financial exclusion through reliance on flawed data or mistakes in...more
On May 13, 2020, the Small Business Administration ("SBA") issued FAQ # 46 dealing with its plan to review certain PPP loans (in response to COVID-19) to determine if the “necessity” certification was made in good faith by...more
5/16/2020
/ Borrowers ,
Business Necessity ,
CARES Act ,
Certification Requirements ,
Coronavirus/COVID-19 ,
Good Faith ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
Small Business Loans
The Small Business Administration emphasizes that businesses who participate in the Paycheck Protection Program must make a good faith certification that the loan request is “necessary” to support ongoing operations due to...more