Small-business owners say they were mistakenly accused of defaulting on federal Covid loans

Posted under: SMB
Date: 2024-12-11
Current Enforcement Efforts in the Battle Against COVID-19

Freddie Harb faced financial collapse in 2020 when his entertainment booking company, Sleeping Giant Music, was shut down due to the Covid epidemic. Like Harb, a number of other small business owners have found navigating the SBA's Covid catastrophe loan program to be equally excruciating. They claim that the agency's internal accounting and processing problems caused their loans to be wrongly classified as late or in default.

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