News

News

PPP Funds Subject to Fraud

Watchdog group finds that many abused teh Paycheck Protection Program, reports Fox 6.

A report from the Office of Inspector General of the U.S. Small Business Administration published on Tuesday details complaints of thousands of instances involving suspected fraud from financial institutions apparently receiving economic assistance from the Coronavirus Preparedness and Response Supplemental Appropriations Act and the Paycheck Protection Program and Health Care Enhancement Act.

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Smaller Firms Found it Hard to Get Funds

According to WAMU, D.C. small businesses struggled to get PPP funding, while larger businesses received funding. 

After Mayor Muriel Bowser ordered D.C. restaurants to close in mid-March to mitigate COVID-19, Pop’s SeaBar in Adams Morgan saw an initial 70% drop in revenue, says Dustin Beruta, the seafood restaurant’s general manager. 

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Company Offering Small Business Relief

Home improvement company Lowes is offering small businesses grants, reports ABC 13. 

Small businesses struggling during the COVID-19 pandemic may be able to get some help soon.

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