WASHINGTON (Reuters) – The U.S. Treasury and Small Business Administration clarified Wednesday that businesses that seek less than $2 million in emergency relief under the Paycheck Protection Program will be considered qualified unless proven otherwise.
The government agencies said the “safe harbor” should reassure smaller businesses they will not be penalized for taking on the loans. They added that the government would not pursue penalties for any companies that improperly received such loans if the companies pay the money back.
(Reporting by Pete Schroeder, Editing by Franklin Paul)
