Can you find out if someone got a PPP loan?

If you’re looking to check who’s received EIDL grants, EIDL loans, or PPP loans, the SBA has made recipient data publicly available. This information was outlined recently in the SBA Inspector General Identity Theft and Fraud Report.

What happens if you get a fake PPP loan?

It is illegal to make false statements to a financial institution, so if you were to lie on a PPP loan, you could be charged with this federal crime. This act is criminalized under section 1014 and if convicted, you can face quite a hefty fine along with imprisonment for up to 30 years.

Do PPP loans have to be paid back?

Borrowers can apply for forgiveness after they have spent all of the loan money they want forgiven. For PPP loans issued after June 5, 2020, borrowers are given six months to spend the cash. They don’t have to start repaying the loan until 10 months after the spending period ends.

How can I find out if someone used a PPP loan?

One way to check is to review your full credit reports. If you see a hard inquiry from the SBA (Small Business Administration) that means a financial institution ran your credit due to receiving either a PPP or EIDL application. You will need to contact the SBA to find out more.

How do you check to see who got the PPP loan?

You can search data at FederalPay.org to learn which companies received PPP loans. You can narrow your search by industry, location, or company name.

What do I do if someone has a PPP loan in my name?

If you suspect that someone applied for a Paycheck Protection Program (PPP) loan using your information, please file an SBA Declaration of Identity Theft form. You should also: Contact the lender that issued the loan. Report the fraud to them.

How do I get my name off the PPP loan?

OPT-OUT / OPT-IN List Members can be removed from our contact lists at any time with no questions asked. To remove your information from our database to not receive future communications or to no longer receive our service, you may: 1) send e-mail to [email protected]; 2) go to SBA.com/unsubscribe.

Can self employed get PPP loan?

You can apply for a PPP loan as a self-employed individual once applications open for the 1,800 qualified SBA lenders.

How do I pay back a PPP loan?

The website you can use to repay your EIDL loan can be found at Pay.gov. You must have your 10-digit loan number and a payment amount in order to pay it back. There is no prepayment penalty but it is possible a minimal amount of interest has accrued from the time the loan was disbursed.