My business was shutdown for 4 months back in 2020 and severely restricted until about march of 2022. We were able to get both rounds of PPP and the amount we were approved for was nowhere near the amount that we lost in revenue because of the shutdown. The first round of PPP, our bank made us jump through hoops to get approved - second round, they just used the numbers we gave them for the first round. The process we went through seemed to have checks in place to keep fraudulent claims out. My thought, the banks that processed the loans that were fraudulent did not do their jobs. My understanding is that the banks got a 1% origination fee for all approved PPP loans they processed but the program did not hold the banks accountable for verifying the truthfulness of the loans .

My business was shutdown for 4 months back in 2020 and severely restricted until about march of 2022. We were able to get both rounds of PPP and the amount we were approved for was nowhere near the amount that we lost in revenue because of the shutdown. The first round of PPP, our bank made us jump through hoops to get approved - second round, they just used the numbers we gave them for the first round. The process we went through seemed to have checks in place to keep fraudulent claims out. My thought, the banks that processed the loans that were fraudulent did not do their jobs. My understanding is that the banks got a 1% origination fee for all approved PPP loans they processed but the program did not hold the banks accountable for verifying the truthfullness of the loans .

My business was shutdown for 4 months back in 2020 and severly restricted until about march of 2022. We were able to get both rounds of PPP and the amount we were approved for was nowhere near the amount that we lost in revenue because of the shutdown. The first round of PPP, our bank made us jump through hoops to get approved - second round, they just used the numbers we gave them for the first round. The process we went through seemed to have checks in place to keep fraudulent claims out. My thought, the banks that processed the loans that were fraudulent did not do their jobs.