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PPP loan fraud investigators charge several small contractors

from Engineering News-Record

Design and construction companies made up the largest segment of companies that applied and were approved for funding under PPP, a program run by the U.S. Small Business Administration. Contractor associations lobbied hard to make terms as friendly as possible for construction contractors, especially related to permitted uses of funds, the time period in which they must be spent and terms that would allow loans to be forgiven. Although the final list of companies that used approved loans remains unknown, based on the long list of firms approved, tens and possibly hundreds of thousands of jobs were likely saved. more

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