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News

Minnesota Man Charged with PPP Fraud

A St. Paul man has been charged with fraudulently obtaining PPP loans, reports Star Tribune. 

A 32-year-old St. Paul man was indicted by a federal grand jury on fraud and money laundering charges, accused of obtaining $841,000 in fraudulent Paycheck Protection Program loans created to help small businesses harmed by COVID-19.

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Small Business Hurt by Postal Problems

According to CNN Business, problems within the U.S. Postal Service are hindering how small businesses conduct business.

Delays in mail delivered by the United States Postal Service have impacted veterans waiting to receive their medication and threatened mail-in voting in November. They're also hurting America's small businesses.

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Economic Injury Loans Lower PPP Forgiveness

Small businesses that received an Economic Injury Disaster loan may receive less forgiveness for their Paycheck Protection loans, reports CNBC.

Entrepreneurs who received up to $10,000 in federal grants and took a forgivable Paycheck Protection Program loan as well are in for a surprise: They won’t be getting the full loan forgiveness they had hoped for.

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