Require repayment of pandemic loans that did not qualify for forgiveness
What the document says“Entities receiving PPP loans that did not meet eligibility for forgiveness must be required to pay back the money.”
The chapter cites the inspector general saying managing pandemic stimulus lending is the greatest challenge facing the agency. It asks whether the agency has authority to reverse forgiveness decisions and, if so, to reverse them for the loans in question, investigate, and refer to the Justice Department any recipient found to have knowingly misrepresented eligibility, naming Planned Parenthood affiliates among the possible subjects. It also suggests bringing in private-sector expertise to close the programs out.
What the document actually says“Entities receiving PPP loans that did not meet eligibility for forgiveness must be required to pay back the money.”
Some firms got loans forgiven that should not have been. They must pay the money back.
During the pandemic the government lent firms money. Much of it did not have to be paid back. The book says some never qualified. It wants that money returned.
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