PPP Loans

An NPR analysis of data released by the Small Business Administration shows the vast majority of Paycheck Protection Program loans have been forgiven, even though the program was rampant with fraud.

Fraud in the Paycheck Protection Program, which gave potentially forgivable loans to small businesses during the pandemic, was largely due to financial technology companies, according to a new report.

Officials promised a robust review process before forgiving PPP loans, but most loans could be forgiven with a simple, one-page form. Meanwhile, just 2% of loans have gotten close, hands-on reviews.

A 34-year-old man was charged with one count of wire fraud after being accused of filing a fraudulent loan application in 2020.

Some city leaders see Miami as the new hub for tech. And, why has the government not yet forgiven all those PPP loans - especially for minority-owned businesses? Plus, Karla Hoyos is the owner of Tacotomia. But, right now she’s not making delicious dishes for her customers. She’s in Poland, on the Ukraine border, helping to feed people fleeing war with World Central Kitchen.

The Paycheck Protection Program was created by Congress as part of the March 2020 CARES Act and designed to provide relief to small businesses struggling with COVID-19-related closures and disruptions.

The Paycheck Protection Program, which provided emergency loans to small businesses amid the pandemic, will wind down soon. Economists are divided on whether it saved enough jobs to justify its cost.

City National Bank of Florida was one of the most prolific lenders of government rescue money during the pandemic.

The colossal package allocates money for COVID-19 vaccines, small businesses and anti-poverty programs like the child tax credit. Here are the highlights of the bill President Biden signed Thursday.

Black-owned businesses were often at the back of the line when the first coronavirus relief loans were doled out. Now, some are turning to banks that specialize in minority firms for help.

The gates are open for a second wave of forgivable loans meant to help small businesses keep their employees. Dollars from the Paycheck Protection Program (PPP) can also be used to help offset costs brought on by COVID-19.

This post will be updated today, Wednesday, Jan. 20, and through the week with the latest information on COVID-19 in South Florida.