Marblehead Residents Arrested for Alleged EIDL, PPP Fraud
A Marblehead man and woman are accused of submitting fraudulent loan applications for religious charitable organizations they control.
US Failed to Stop Fraud in COVID Loan Program, Top Rep Says
The U.S. failed to take basic steps at the start of the coronavirus pandemic to prevent fraud in a federal aid program intended to help small businesses, the chairman of a House panel examining the payouts said Tuesday.
SBA Extends COVID-Related EIDL Deferrals
Business owners who have received COVID-related Economic Injury Disaster Loans through the U.S. Small Business Administration now have more time before they need to begin repaying the loan.
Hull Man Sentenced for PPP, EIDL Fraud
A Hull man was sentenced to two years in prison for submitting fraudulent documentation to receive pandemic-related U.S. Small Business Administration loans.
Salem Man Pleads Guilty to EIDL Fraud
A Salem man has pleaded guilty to a fraud scheme involving COVID-19 relief funds for small businesses.
COVID EIDL Program Ends on Friday
The Economic Injury Disaster Loan program for small businesses affected by COVID-19, a key financing option throughout the pandemic, will close on Friday.
SBA Increases EIDL Loan Limit
The U.S. Small Business Administration has increased the borrowing limit for the COVID Economic Injury Disaster Loan (EIDL) program and made other changes to help small businesses affected by the Delta variant.
SBA Increases EIDL Loan Limit
The U.S. Small Business Administration will more than triple the maximum amount that small businesses and nonprofit organizations can borrow through the COVID-19 Economic Injury Disaster Loan (EIDL) program. The loan limit will increase from $150,000 to $500,000 starting the week of April 6, and the time frame for economic injury will increase from six months to 24 months.
Hull Man Charged With PPP, EIDL Fraud
A Hull man who had previously been convicted in a securities fraud scheme was arrested last week and charged with submitting fraudulent documents to receive Paycheck Protection Program and Economic Injury Disaster loans.
As PPP Forgiveness Ramps Up, Lenders Expect Less Chaos
With another round of the Paycheck Protection Program about to begin, lenders will have to manage the process for new loans while still getting through last year’s forgiveness applications.
Two Charged with EIDL Fraud
Two men were arrested and charged in connection with a scheme to use stolen identities to fraudulently obtain $450,000 in disaster loans from the U.S. Small Business Administration and launder the funds.
