The Small Business Administration ignored several congressional mandates in implementing the Paycheck Protection Program, its inspector general said
WASHINGTON—The Small Business Administration didn’t follow several congressional mandates in implementing its huge loan program designed to keep businesses afloat during the coronavirus pandemic—including failing to issue guidance that prioritized underserved communities, the agency’s inspector general said in a report Friday.
The report focuses on the Paycheck Protection Program, part of a $2 trillion aid package that became law in March.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Small business owners in hardest-hit states were less likely to get relief loans, study showsSmall businesses in states hardest hit by the coronavirus -- including New York, New Jersey, Michigan and Pennsylvania -- were less likely to get federal coronavirus relief loans than less-affected states in other parts of the US, according to research from economists at the Federal Reserve Bank of New York.
Consulte Mais informação »
Lloyd Blankfein says big companies should be 'very reluctant' to tap small business relief programBlankfein may be speaking from experience: Goldman took $10 billion from the Treasury's Troubled Asset Relief Program in October 2008.
Consulte Mais informação »
Demand for Small Business Loans CoolsNearly two weeks after the federal government relaunched its small business aid program with an additional $310 billion, more than 40% of the money remains available.
Consulte Mais informação »
Restrictive Craft Beer Laws May Put Small Breweries Out Of BusinessIn Minnesota, breweries can sell growlers from their taprooms -- but old laws and political posturing keeps them from selling the equivalent volume in cans.
Consulte Mais informação »
When coronavirus hit, these small businesses got creative, but they still need help'GMA' put out a call to small businesses and service workers to see how they've responded to the economic downturn, and we'll share their stories here, along with ways Americans can support small businesses.
Consulte Mais informação »