Printer Friendly, PDF & Email

Small Business Administration scrapped ethics review for COVID-19 payments

The United States Small Business Association (SBA) scrapped a requirement that had loan seekers undergo an ethics review before obtaining funds from the Payment Protection Program (PPP).[1]

The SBA normally required applicants to obtain a waiver from a Standards of Conduct Committee to confirm there were no potential ethics violations or conflicts of interest before obtaining a loan. That provision was scrapped for the PPP, and SBA spokesperson Jim Billimoria said that the removal of that requirement was standard procedure for emergency disaster loans, such as the PPP, that help companies pay salaries and other expenses during a pandemic.

This document is only available to subscribers. Please log in or purchase access.