SBA OIG Flags Areas of Concern with SBA’s Loan Forgiveness Process in Recent Report

Crowell & Moring – On February 28, 2022, the Small Business Administration’s (SBA) Office of Inspector General (OIG) issued a report regarding the SBA’s Paycheck Protection Program (PPP) loan forgiveness process. The SBA OIG noted a number of concerns including questions about how SBA will recover on potentially fraudulent or ineligible loans, the fact that not all borrowers sought forgiveness of their PPP loan, and changes in eligibility of the institutions that issued loans in 2021.