ABSTRACT

Preventing Fraud and Abuse of PPP and EIDL: An Update with the SBA Office of Inspector General and the Government Accountability Office, Hearing Before the Subcommittee on Investigations, Oversight, and Regulations of the Committee on Small Business, United States House of Representatives, One Hundred Sixteenth Congress, Second Session, October 1, 2020   [open pdf - 3MB]

This is the October 1, 2020 hearing on "Preventing Fraud and Abuse of PPP [Paycheck Protection Program] and EIDL [Economic Injury Disaster Loan]: An Update with the SBA [Small Business Administration] Office of Inspector General and the Government Accountability Office," held before the House Subcommittee on Investigations, Oversight, and Regulations of the Committee on Small Business. From the opening statement of Judy Chu: "On March 27th, the CARES [Coronavirus Aid, Relief, and Economic Security] Act was signed into law and created the Paycheck Protection Program, or PPP, and the Economic Injury Disaster Loan emergency advance. And SBA acted extremely quickly to implement these critical economic relief programs in order to deliver emergency funding to small business owners to keep them afloat. Over the past 6 months, more than 5.2 million PPP loans and approximately 3.5 million EIDL applications have been approved. [...] Congress and the American people must have confidence that the Administration is taking seriously their responsibility to mitigate fraud and ensure that this assistance is available to all eligible small businesses. Today, I hope to learn more from the SBA Inspector General and the Government Accountability Office about your findings and discuss ways to improve the delivery of SBA services to small businesses." Statements, letters, and materials submitted for the record include those of the following: Hannibal 'Mike' Ware and William Shear.

Report Number:
Small Business Committee Document No. 116-097
Publisher:
Date:
2021
Series:
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations