Inadequate or Questionable Documentation Submitted in Support of Loan Forgiveness Certification
Another key aspect of the PPP is that loans issued under the program are eligible for forgiveness if they are used entirely for authorized purposes. When seeking forgiveness, companies are required to provide documentation, and they must affirmatively certify as to the accuracy of this documentation and as to compliance itself. Inadequate or questionable documentation submitted in support of a request for PPP loan forgiveness is another huge red flag, and companies accused of submitting fraudulent forgiveness requests can face a variety of federal charges.’