indicate that they're on high alert for fraud, and I think that should impact the way borrowers who believe they need funds think — they should keep that perspective front of mind," Railton said. "History shows that any time there is government aid, there will be investigations years down the road, and the worry about fraud impacts how closely the government will scrutinize."
"Think about the basis for meeting the certifications, and how to best position yourself to establish good faith," Railton said. In doing so, be aware that in a post-PPP loan audit, authorities will review your business from an overall standpoint, looking at more than just spending connected with your PPP funds.
In short, when you're making a move, track why that decision was made. In hindsight, you'll be glad you did.If business owners have any concern about the "necessity" certification or any others they signed off on when applying for a PPP loan, there's always the option to return the funds, Railton said. On May 6,Businesses may decide to return funds even if they do strictly meet the standard of "necessity.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
US Reps blast five large companies for taking PPP coronavirus funding - Business InsiderCollectively, the five companies singled out by a House committee took $50 million in small business loans through the Paycheck Protection Program. Whatever BLAST means. It looks like a well REHEARSED DRAMA. How else could these companies buy back their shares to please the BLASTERS? Who has released the money to them? Maybe, need an investigation from India? We can find it in hours. Greedy big business stealing from small businesses, what else is new? Big business doesn't even pay taxes, Catholic churches got money, they don't pay taxes. Republican money give away.
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
You should put a PPP loan into a separate account to get it forgiven - Business InsiderNot only will a separate account prevent you from accidentally misusing funds, it could help you more easily convert that loan into a grant. Good info
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
Cash flow is 'more important than ever' while PPP loans stall—here's how small business credit cards can helpA credit card can keep your small business afloat when cash flow is interrupted or the economic future is unclear, as many are finding out during the coronavirus pandemic. IndoBusiness Longer term will people max cards and then default driving the stock down? Let us know ; )
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »