An Ohio man is one of five being indicted in a $4 million Payroll Protection Program (PPP) fraud case.
The accused allegedly submitted, or assisted in the submission of a fraudulent PPP loan for five businesses according to the indictment. Khalil Gibran Green Sr. of Cleveland claimed to be the sole owner of Impact Creations LLC, a company that claimed to have 67 employees and an average monthly payroll of $332,000 on a PPP application. Read More
The Small Business Administration and the U.S. Treasury revealed Sunday that the second round of the Paycheck Protection Program has issued 2.2 million loans, totaling $175 billion.
PPP loans are forgivable loans for small businesses to offset some of the losses experienced by the response to the COVID-19 pandemic. The loans are meant to provide a direct incentive for small businesses to keep their workers on the payroll. Read More
The Los Angeles Lakers received and then returned a forgivable loan of roughly $4.6 million under a federal program designed to help small businesses during the coronavirus pandemic. Read More
More than 38,000 small businesses across Ohio have received forgivable loans from the federal government under the Paycheck Protection Program. Read More
Officials at Tennessee State University have scheduled a one-day forum on Opportunity Zones for Tuesday, March 3. Read More