Two non-lenders Blueacorn and Womply, have been suspended by the U.S. Small Business Administration (SBA) immediately from working with the agency in any capacity. These are companies that worked with PPP lenders according to the announcement from the SBA.
The SBA recently issued a statement regarding the findings from the House Select Subcommittee on the Coronavirus Crisis report on Paycheck Protection Program (PPP) fraud. A number of fraud cases have been exposed, with the monies involved reaching into the tens of millions.
