News & Analysis as of

Paycheck Protection Program (PPP) Borrowers Coronavirus/COVID-19

J.S. Held

Current Enforcement Efforts in the Battle Against COVID-19 Loan Program Fraud

J.S. Held on

The COVID-19 pandemic caused unprecedented impacts around the world including stay-at-home orders, curfews, quarantines, and economic uncertainty. Businesses across the United States were forced to close their doors, limit...more

Ballard Spahr LLP

Overturning of Chevron Boosts Challenges to SBA PPP Loan Forgiveness Denials

Ballard Spahr LLP on

The U.S. Supreme Court’s recent overturning of the Chevron Deference Doctrine calls into question several Chevron-based federal court rulings allowing the Small Business Administration (SBA) to exclude many categories of...more

Bass, Berry & Sims PLC

COVID-19 Relief Enforcement Actions Highlight Ongoing Risk

Bass, Berry & Sims PLC on

The Department of Justice (DOJ) continues to demonstrate its sustained interest in COVID-19 relief fraud as an enforcement priority and we can expect to see persistent enforcement in this area....more

Mintz - Health Care Viewpoints

Acting U.S. Attorney Levy Forecasts False Claims Act COVID Cases Targeting Private Lenders Of CARES Act Loans That Failed In Their...

Acting U.S. Attorney Joshua Levy discussed the enforcement priorities for the Massachusetts U.S. Attorney’s Office (USAO) during a Q&A session on May 29, 2024, and made clear that the historical focus of the office remains...more

Husch Blackwell LLP

PPP Loan Audits Could Affect Millions of Borrowers

Husch Blackwell LLP on

In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more

Buchalter

PPP Lender Liability, Enforcement, & Fintech Challenges

Buchalter on

The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly...more

Health Care Compliance Association (HCCA)

CARES Act appeals: Key steps in addressing denials and repayments

With the onset of the COVID-19 pandemic, Congress initiated several programs to help businesses weather the difficult economic conditions. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided two of these...more

Buchalter

PPP Fraud Enforcement Shows No Signs of Slowing

Buchalter on

After dozens of high-profile criminal prosecutions and a growing wave of civil investigations, the Department of Justice’s (“DOJ”) Covid-19 Fraud Enforcement Strike Force is poised to continue its pursuit of fraud, abuse, and...more

Orrick, Herrington & Sutcliffe LLP

DOJ Appears to Shift Focus to Lenders in Paycheck Protection Program Investigations: What You Need to Know

The Department of Justice appears to be shifting its focus from investigating fraudulent behavior by Paycheck Protection Program (PPP) borrowers to investigating lenders and related institutions....more

McDermott Will & Emery

PPP Loan Appeals, SBA Clawbacks and More: What You Need to Know

McDermott Will & Emery on

Last year, we published an article titled “What to Do if Your PPP Forgiveness Application Is Denied.” Today, we share some insights into the Paycheck Protection Program (PPP) and appeals process based on our representation of...more

Fox Rothschild LLP

Federal Reserve Board Fines Bank for Processing PPP Loans That Had Signs of Fraud

Fox Rothschild LLP on

In its first enforcement action related to COVID-19 government aid programs, the Federal Reserve Board recently announced that it has fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program...more

Epstein Becker & Green

The Continued Importance of PPP Appeals

Epstein Becker & Green on

A recent analysis of data released by the United States Small Business Administration (“SBA”) suggests that the vast majority of Paycheck Protection Program (“PPP”) loans extended to small businesses during the COVID-19...more

Jenner & Block

Government Contracts Legal Round-Up | 2022 Issue 18

Jenner & Block on

Welcome to Jenner & Block’s Government Contracts Legal Round‑Up, a biweekly update on important government contracts developments. This update offers brief summaries of key developments for government contracts legal,...more

Epstein Becker & Green

Borrower/Lender Disagreements in PPP Loan Forgiveness Applications

Epstein Becker & Green on

As we wrote recently, the Paycheck Protection Program (“PPP”) was critical in helping small businesses stay afloat amidst the COVID-19 pandemic and resultant government restrictions on commerce. By now, most borrowers know...more

Schwabe, Williamson & Wyatt PC

The Lender’s Role in the PPP Loan Review Process - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Updated February 24, 2022 - Update: On January 27, 2022, the Small Business Administration (“SBA”) issued SBA Procedural Notice 5000-82766, SBA Loan Reviews of Paycheck Protection Program Lender Partial Approval...more

McDermott Will & Emery

What to Do if Your PPP Forgiveness Application Is Denied

McDermott Will & Emery on

The Small Business Administration’s (SBA) public data indicates that more than 98% of the total Paycheck Protection Program (PPP) loan value requested to be forgiven by borrowers has been forgiven by the SBA (approximately...more

Bradley Arant Boult Cummings LLP

PPP Appeal Process Overview

In 2022, there will inevitably be an uptick in the number of appeals of Small Business Administration (SBA) loan decisions in the Paycheck Protection Program (PPP) context. This is due simply to the passage of time, to the...more

Schwabe, Williamson & Wyatt PC

What to Know About PPP Appeals and Next Steps - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Update: On September 16, 2021, the Final Rule on Borrower Appeals of Final SBA Loan Review Decisions was posted and became effective on September 14, 2021 (the “Final Rule”). The Final Rule applies to all appealable final SBA...more

Morrison & Foerster LLP

DOJ Enforcement Actions Involving COVID-19 Relief Fraud: An Update (September 2021)

As the COVID-19 pandemic continues, so does Department of Justice (DOJ) enforcement of COVID-19-related fraud. In our first alert on this topic, in May 2020, we tracked early fraud cases involving the Coronavirus, Aid,...more

Schwabe, Williamson & Wyatt PC

What to Know about PPP Appeals and Next Steps

Update: On July 28, 2021, an Interim Final Rule on COVID-19 Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment was posted. That Interim Final Rule conforms the applicable PPP rules to provide...more

Schwabe, Williamson & Wyatt PC

First Draw Loans at or Over $2 million—SBA Discontinues Use of Necessity Questionnaires and What Is Next - Update

As per our earlier articles, in late 2020, the SBA began requiring borrowers with First Draw PPP loans $2 million or greater to complete a PPP Loan Necessity Questionnaire (Form 3509 (For Profit Borrowers) or Form 3510...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Microbusinesses

The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more

Fox Rothschild LLP

Paycheck Protection Program-Related Convictions Result In Harsh Federal Prison Sentences

Fox Rothschild LLP on

The U.S. Department of Justice took several victory laps this month, touting long prison sentences it has secured for COVID-19 related fraud. These prison terms send a clear message to any individual or business that...more

Bradley Arant Boult Cummings LLP

Hold Those Forms: AGC Announcement Raises Doubts on PPP Questionnaire

The Small Business Administration’s Paycheck Protection Program (PPP) Loan Necessity Questionnaire may soon be a thing of the past. Last fall the SBA began requiring lenders to provide certain questionnaires to PPP borrowers...more

Schwabe, Williamson & Wyatt PC

PPP Loans Over $2 Million and the PPP Necessity Questionnaires - Update #3

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

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