Best Criminal Defense Lawyers in Kennesaw, GA

Background into the PPP Loan system The Paycheck Protection Program has been one of the largest and most well-known of the governmental responses to the nation’s economic hardships caused by the COVID-19 pandemic. This program is run by the Small Business Administration (SBA). Per the agency’s name, the program is supposed to help small businesses (those with under 500 employees). Essentially a business owner goes to a bank, applies for the PPP loan (which the federal government backs), and that business owner receives favorable loan terms. The program has handed out almost $400 billion through almost 4 million different applications. It’s worked for businesses of all sizes from nail salons to law firms. But, it started out with more backlash than praise. There were questions of efficacy and who was receiving the money. Part of this backlash was tied to the ability to defraud the program. Still, the program has been largely successful. It has been credited as one of the factors behind avoiding a total economic collapse at the height of the quarantine during the COVID-19 Crisis. The program was established so those small businesses could pay for employee wages as well as some overhead costs. These limitations are what is used by the judicial system when investigating fraud cases.