Klingler in AJC on Paycheck Protection Program Loans
Atlanta Partner Robert Klingler was quoted July 17 by The Atlanta Journal-Constitution regarding the federal Paycheck Protection Program (PPP) and its loan eligibility parameters and borrowers. The AJC was reporting on irregularities among loan recipients, the possible result of administrative errors or potential fraud. “The vast majority of applicants were legitimate…Probably 99-plus percent of the PPP borrowers were eligible and good businesses,” Klingler said. He also commented on specifics of the PPP loan process and how these irregulars may occur, saying “the message to banks from the [Small Business Administration] was, ‘Lend your money and trust us, we will make you whole.’ There’s a lot of skepticism from bankers on that. The government has told banks that kind of thing before and didn’t live up to it.”
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