If you’re looking to check who’s received EIDL grants, EIDL loans, or PPP loans, the SBA has made recipient data publicly available. … This information was outlined recently in the SBA Inspector General Identity Theft and Fraud Report.
In this manner, are SBA PPP loans public record?
Under open government transparency guidelines, information on recipients of the $799B in forgivable government loans issued through the 2020 Paycheck Protection Program by the US Small Business Administration (SBA) are a matter of public record.
Regarding this, can you go to jail for PPP loan 20k?
If the lie on your PPP loan is counted as deceiving a financial institution to profit, then you can be charged with bank fraud under U.S. Code Title 18 U.S.C. 1344. … Typically, for an individual facing a misdemeanor for this crime, the bank fraud punishment can be up to one year in jail and up to $4000 in fines.
Can you go to jail for PPP loan?
Depending on the circumstances, the federal government might charge people accused of defrauding the PPP under the following provisions: 15 U.S.C. § 645: Making a false statement to the SBA. This can result in a fine of up to $5,000 and up to 2 years in prison.
Call 1-800-659-2955 (the SBA Disaster Assistance customer service center) about the application process, the status of your loan, or with any other questions you may have. If you applied through the COVID-19 portal, the SBA will contact you, but you may be able to get answers by calling the toll-free number.
Since any company that’s eligible to receive an EIDL loan is eligible for a grant, the process of getting the up to $10,000 advance for your business was relatively straightforward. You simply went to the SBA’s disaster loan assistance page and filled out an application.
Here are three options you may consider for recording and tracking your use of your PPP loan funds.
- Open a separate bank account for your PPP loan. …
- Manually track your loan in a spreadsheet. …
- Track your PPP loan funding and spending in QuickBooks.
Yes. PPP loans (the full principal amount and any accrued interest) may be fully forgiven, meaning they do not have to be repaid. … Businesses have up to 24 weeks from the date you received the loan to spend the funds in a manner that is eligible for loan forgiveness.
If you have all your documentation in place, your approval can take as little as a day or two, depending on your lender. Once your loan is approved, estimates are that it should take approximately 5-7 business days for your funds to become available.
The PPP is an emergency loan program administered by the Small Business Administration. Historically, information on all loans issued by the SBA is publicly available information and subject to release under the Freedom of Information Act.
There is no restriction on receiving both benefits, but as a general rule you should not use your PPP loan to cover your own compensation while at the same time receiving unemployment benefits.
$ PPP Loan Information
C P Services in Greensboro, AL received a Paycheck Protection Loan of $8,362 through Kabbage, Inc., which was approved in June, 2020.
Anthony Thomas in Monroeville, AL received a Paycheck Protection Loan of $10,805 through Celtic Bank Corporation, which was approved in June, 2020.
Patrice Mcintosh in Phenix City, AL received a Paycheck Protection Loan of $1,000 through Square Capital, LLC, which was approved in April, 2020. This loan’s status is reported by the SBA as “Paid in Full”, which includes both loans repaid and those fully forgiven from repayment under PPP guidelines.
Stephanie Griffins is a sole proprietorship located in Greenville, Mississippi that received a Coronavirus-related PPP loan from the SBA of $2,566.00 in May, 2020.
Four industries in Alabama that got the most paycheck protection program loans include health care and social assistance, construction, manufacturing, and professional, scientific, and technical services.
$ PPP Loan Information
Johnny Samuel in West Point, MS received a Paycheck Protection Loan of $1,000 through BankFirst Financial Services, which was approved in May, 2020.
Advanced PPP Loan Search By FederalPay.org
|Company Name||City||PPP Loan|
|East Mississippi Electric Power Association||MERIDIAN||$2,761,500|
|Maloney Management, LLC||TUPELO||$2,770,800|
|Southern Beverage Co Inc||RICHLAND||$2,772,300|