The rapid rollout of the Paycheck Protection Program raises fraud risk, government watchdog finds

As of June 12, the Small Business Administration processed some $ 512 million in PPP loans for business owners in need. The speedy implementation of the program and limited underwriting could lead to potential fraud, the Government Accountability Office found. … Read more…

Trevor Noah Explains How Banks Used The Paycheck Protection Program To “Screw Over The Little Guy”

Trevor Noah wasted no time on laying into government waste on Tuesday’s The Daily Social Distancing Show. Noah used his monologue to ridicule the federal Paycheck Protection Program. Meant to help small businesses through the pandemic, the program’s $ 342 … Read more…

Coronavirus Update: Why Black Business Owners Fear Being Left Out Of The Paycheck Protection Program

As the second round of money is being distributed via the Paycheck Protection Program, many black business owners are expressing concern over the process, or worse, being completely left out in the cold. The second small business stimulus relief, designed … Read more…

Coronavirus Update: Why Black Business Owners Fear Being Left Out Of The Paycheck Protection Program

As the second round of money is being distributed via the Paycheck Protection Program, many black business owners are expressing concern over the process, or worse, being completely left out in the cold. The second small business stimulus relief, designed … Read more…

Democrats urge paycheck scheme coverage for community, minority lenders

Top Democrats have urged the U.S. Treasury Department and the Small Business Administration (SBA) to expand opportunities for community development financial institutions (CDFIs) and minority depository institutions (MDIs) in the Paycheck Protection Program funding. Reuters: Politics SPECIAL NEWS BULLETIN: SPECIAL … Read more…

Democrats urge paycheck scheme coverage for community, minority lenders

Top Democrats have urged the U.S. Treasury Department and the Small Business Administration (SBA) to expand opportunities for community development financial institutions (CDFIs) and minority depository institutions (MDIs) in the Paycheck Protection Program funding. Reuters: Politics SPECIAL NEWS BULLETIN: SPECIAL … Read more…

PayPal is now offering Paycheck Protection Program loans to more than 10 million small businesses

PayPal has received approval to provide small business loans through the government’s Paycheck Protection Program, a pillar of the $ 2.2 trillion stimulus package to alleviate economic stress from the coronavirus pandemic. The digital payments company on Wednesday quietly began … Read more…

‘It’s going to be a mess’: What small businesses applying to the SBA’s Paycheck Protection Program need to know

Subscribe to Outbreak, a daily roundup of stories on the coronavirus pandemic and its impact on global business, delivered free to your inbox. As small businesses ready to apply for the new Small Business Association’s Payroll Protection Program loans (as … Read more…