Sba Won’t Even Try To Collect On PPP Loans Of $2 Million Or More

2/15/2023 by Brian Hamachek

The Small Business Administration (SBA) has decided to not collect on Paycheck Protection Program (PPP) loans under $2 million, which could lead to an estimated $13 billion in unpaid loans. This decision has sparked criticism from conservatives who are calling it a “lefty slogan” for “because we want to.”

The SBA announced in August that it would not pursue loans under $2 million. This decision was made in order to provide relief to small businesses that were struggling due to the COVID-19 pandemic. The SBA believes that it will be too difficult to determine whether the loan was used for legitimate business expenses or fraud.

However, conservatives have expressed concerns that this decision could lead to individuals and businesses taking advantage of the loan program and not paying back the money. They argue that this decision could lead to a large amount of taxpayer money being wasted on bad loans.

The SBA has defended its decision by pointing out that the vast majority of PPP loans were for $2 million or less. They have also stated that the decision to not collect on these loans was made to ensure that businesses have the financial support they need to survive during the pandemic.

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