SBA to Refer PPP and EIDL Loans <$100k to Treasury for Collection
Writes SBA Administrator Guzman to Congress
“SBA will begin referring PPP and COVID EIDL small business borrowers with loans under $100,000 in default to the Treasury for IRS-led and third-party collection activities. As you are aware, currently those with loans $100,000 and over in default are already referred to the Treasury.”