PYMNTS
APRIL 29, 2020
One of the things that will be required is you will have to show a payroll report that you actually spent the money on payroll and other items that qualify for forgiveness,” he said. Borrowers must certify 75 percent of the money was spent on payroll. The SBA didn’t respond to requests for comment, the WSJ reported.
PYMNTS
MAY 6, 2020
In a letter to Simons on Wednesday (May 6) 11 senators, led by Klobuchar and Warren, raised concerns about scammers “exploiting” the popular Small Business Administration’s (SBA) PPP designed to keep employees on the payroll. CNBC said the FTC did not immediately respond to a request for comment on the senators’ letter.
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PYMNTS
MAY 7, 2020
Some of it, the company said in the lawsuit, has been spent to keep about 70 employees on payroll. Per the report, the SBA and Treasury did not respond to requests for comment. In addition, the suit said Zumasys is worried that it must return the forgivable loan the company and two subsidiaries received last month.
PYMNTS
DECEMBER 20, 2019
FLEETCOR did not immediately respond to a request for comment to Yahoo Finance. The issue mirrors the debate over payroll card fees and raises new concerns over fees connected to card products for businesses, with the inclusion of interchange fees.
PYMNTS
APRIL 27, 2020
Spokespersons for the SBA and the Treasury did not respond to a request for comment from PYMNTS. The measure includes more than $320 billion for the PPP, created by the CARES Act, w hich provides forgivable loans to small businesses to help keep their employees on the payroll. The site was working at 2:30 p.m.
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