The guide shares details about the PPP loan and the names of the scammers mentioned in Ppp Fraud List Ohio.
Incentives and relief packages have been distributed across the United States during the pandemic to support hardworking Americans and the economy financially. The Small Business Administration comes forth to distribute guaranteed relief funds to the eligible businesses under the CARES program or Coronavirus Aid, Relief, and Economic Security.
These relief funds were being sought out by some individuals and businesses who allegedly participated in a scam. Many individuals from Ohio states have lied about employing people and owing firms to apply for the relief package.
You will find the Ppp Fraud List Ohio and other states below.
PPP or Paycheck Protection Program is a billion-dollar business loan program commenced in the United States in 2020 under the Coronavirus Aid, Relief, and Economic Security Act. It aims to help businesses, sole proprietors, self-employed workers, tribal businesses, and NGOs continue their business operations by paying their employees.
It allows businesses to apply and secure low-interest private loans to pay off their rentals, payrolls and cover other business expenses. The loan amount is equal to 2.5 times the average monthly payroll cost of the business. Let us see the list of companies involved in PPP loan fraud.
The federal government keeps a close eye and monitors each applicant thoroughly to ensure zero scams and frauds. But, the scammers are getting smart and forging the documents to secure a loan under the CARES program. So, below is the list of PPP Loan frauds from Ohio.
It has been estimated that a total of 140 261 loans were distributed alone in Ohio, leading to over 18 808 52 jobs retention. However, the number includes those who were listed on the Ppp Loan Frauds List.
Based on the available data, a loan of $26 754 087 921 has been distributed under the PPP program to businesses in Ohio state. If you are interested in knowing the number of loans distributed in the state, then visit the official website of the PPP directory.
PPP loan is for those businesses and individuals who were severely hit by the global pandemic. It allows them to cover operational costs and the payroll of employees. However, some scammers are up to doing frauds with the funds. However, the federal government is closely monitoring it and highlighting the names of frauds in the Ppp Fraud List Ohio.
Do you know someone involved in the PPP scam? Would you mind sharing what steps you have taken to report the fraud?
Also Read : – Blue Acorn Ppp Reviews {Jun 2021} Scam Alert -Be Safe!
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