Why are SBA PPA loan applicants required to answer question about prior convictions if new federal law prohibit federal agency from asking questions about criminal history when applying for loan?
It is my understanding that as of January the first 2021 employers are not allowed to ask applicants if they have a criminal record and federal agencies like the SVA are not supposed to ask that question when processing applications for Federal loan. Many applicants were automatically denied PPA loan based on old criminal convictions and lost their businesses when they could not get the support the rest of business people were getting. Now that loans are being made available again the question is still in the application. Thanks are claiming they do not have any control over processing the application
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For the paycheck program, the new policy from the Small Business Administration says business owners can't get a loan if they are facing criminal charges or have had a felony conviction in the past five years. The second loan program is also bewildering many applicants with criminal records.