US House Passes 7 Small Business Bills – 2 for PPP and EIDL Loan Fraud | Small Business Trends

The slew of bills includes legislation to extend the statute of limitations on small business pandemic fraud cases, enhance workforce development offerings, and improve the procurement process for small businesses. Among the bills passed two would establish a ten-year statute of limitations for prosecutions related to fraud related to the Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster Loan (EIDL).

“These seven bills will help make key SBA programs more secure, accessible, and focused on the most pressing challenges for small firms”, said Chairwoman Nydia M. Velázquez of New York.

What are the resolutions?

The bills are designed to promote policies that encourage small business development, hold small business pandemic fraudsters accountable, develop the small business workforce, and support small contractors doing business with the federal government.

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