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Started By
Message
re: Is there a new PPP hustle going around?
Posted on 5/25/21 at 8:45 am to Mingo Was His NameO
Posted on 5/25/21 at 8:45 am to Mingo Was His NameO
quote:
Some people will get away with fraud, no doubt, but it's not some wide spread conspiracy
I doubt there will ever be an audit into PPP but I'd love to see the outcome it there is.
quote:
What are you basing any of your opinions on?
What I heard at the time from accountants at my company and banking partners that we work with.....I suppose it is possible that they could have been lying to me but I'm not sure what the gain would have been other than to tell a good story I guess.
ETA The whole reason I asked those folks about it was because I had heard numerous rumors that "small businesses" were getting it that I had questions about if they were an actual business and how they could prove revenue and other metrics (labor, expenses, etc). I also had questions about how need was determined....because a lot of businesses got PPP that lost 0 revenue.
This post was edited on 5/25/21 at 8:49 am
2
Posted on 5/25/21 at 9:04 am to LSU316
quote:
I doubt there will ever be an audit into PPP but I'd love to see the outcome it there is.
The Treasury is auditing every loan over $2 million and selecting a sample of smaller loans.
Posted on 5/25/21 at 9:06 am to LSU316
quote:
The whole reason I asked those folks about it was because I had heard numerous rumors that "small businesses" were getting it that I had questions about if they were an actual business and how they could prove revenue and other metrics (labor, expenses, etc). I also had questions about how need was determined....because a lot of businesses got PPP that lost 0 revenue.
How would your company know any of that shite and why would bankers you know tell you that?
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