Report Small Business Loan Fraud. Making false statements to obtain an sba loan can result in serious criminal penalties. The small business administration office of inspector general has said the agency has launched investigations into suspected fraud reports submitted the small business administration provided roughly $190 billion more to businesses late last month through the economic injury disaster loan.
Millions of small businesses eventually will apply for forgiveness. A small number of fraud cases was inevitable given the amazing speed with which the paycheck protection program came into being. Find a small business loan.
Borrower fraud will also be common.
Sign on to online banking ». Top 10 takeaways the top ten takeaways for brokers and lenders financing main street's small businesses. At one such audit, opposing counsel read my report, looked at his file and said, gentlemen. The loans were intended to help small businesses during the coronavirus pandemic.credit.benjamin norman for the new york times.