According to Politico, many companies that originally took PPP funds are now hurrying to return them before the deadline. 

Public outrage and Trump administration pressure have forced dozens of companies to return government-backed small business loans, sweeping up not only major brands like Shake Shack and Potbelly but also smaller employers that don't want to face scrutiny.

An IRS ruling could eliminate any benefits small business would see from the Payroll Protection Program, reports Kiplinger.

The IRS just did something that stunned me. It pulled the rug out from under desperate small-business owners just as they were starting to get their feet under them. It was about a month ago that I praised what I saw as the one of the most comprehensive, beneficial acts of Congress in American history. 

Small businesses prepare for an uptick in “friendly fraud”, reports USA Today.

With Americans growing more cautious about their spending habits in the wake of layoffs and pay cuts due to the coronavirus pandemic, experts caution that small businesses should brace for a rise in “friendly fraud.”

According to Vox, the Paycheck Protection Program may ultimately lead to more debt for small businesses. 

A new report from the inspector general for the Small Business Administration finds that forgivable loans from the government — intended to help small businesses weather the current economic fallout — could ultimately leave many weighed down by debt.