SBA recently issued a technical amendment to its SBIR and STTR Programs Policy Directive to clarify that successor-in-interest entities are, in fact, eligible to receive phase III awards. The amendment will take effect on October 1 of this year.
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SBA Inspector General Warns of ‘Widespread’ Fraud in COVID-19 Loan Program
According to the U.S. Small Business Administration Office of the Inspector General, potential fraudsters have obtained $250 million in federal funds intended to help businesses survive the impact of COVID-19.
The Inspector General also identified $45.6 million in potentially duplicate payments and warned that with well over $220 billion left to give out, rapid changes were needed.
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