Applying for a CARES Act Loan? Take Three Simple Steps Now to Avoid Government Scrutiny Later
The COVID-19 virus crush is upon us at this moment. Like in 2008 with TARP, the government has invited businesses around the country to apply for CARES Act relief to help survive this pandemic. But the requirements are unclear, discouraging some would-be applicants wary of much later scrutiny from criminal and False Claims Act prosecutors. Recklessly disregarding CARES requirements can trigger treble damages, and submitting false statements to obtain government funds may result in criminal penalties.
