No Duplicate PPP Loans Act of 2021
This bill requires a borrower that knowingly and willfully submits false information in order to obtain a loan under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to repay any amount received. The Small Business Administration must submit a report on any such loans that includes the number of attempted and processed applications for such loans and actions taken to recover improper disbursements.
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