For example, if a company secured a $250,000 PPP loan and listed $300,000 in qualified payroll on its forgiveness application, it would be eligible to claim just $50,000 in excess payroll for an ERC.

Nathan Reis pleaded guilty last week to conspiracy to commit wire fraud; a Texas jury convicted his wife, Stephanie Hockridge, of the same charge in June.

Prestamos CDFI, a community lender in Phoenix, made 494,000 PPP loans in 2021, more than JPMorgan Chase, Wells Fargo and Bank of America combined. See how their team made it happen.

ALBANY, Ga. (WALB) - A Mitchell County man was found guilty at the trial of a pandemic wire fraud scheme.

The couple was accused of fabricating documents to apply for hundreds of thousands of dollars in loans they weren't eligible ...

For example, only 7% of companies in the New York City borough of the Bronx and 11.6% of firms in Wayne County, Michigan, where Detroit is located, received PPP loans, compared to nearly 18% of ...

However, that changed with the coronavirus relief act signed into law on Dec. 27, 2020, which specifies that deductions shouldn’t be denied simply due to the loan being forgiven.

The majority of the loans (708) were between $10,001 and $25,000. A total of 520 loans were for less than $10,000. More: New Bern businesses seek loan assistance during COVID-19 downturn ...

The remaining PPP funds pool will be allocated to those loans that are on hold – an estimated 190,000 of them. These larger PPP applications may use up $30–40 billion of the remaining $73 ...