Small Business Fraud Discovered During Pandemic

Due to the Coronavirus pandemic and to address the financial fallout experienced by many small business owners, the federal government instituted the Paycheck Protection Program. This program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was initiated in March to prevent further unemployment and ease the financial burden faced by many small business owners throughout the nation.

The program sought to prevent unemployment by allowing applicants’ loans to be forgiven if they were used to cover payroll and other specified expenses related to the pandemic. The program meant to support small businesses was exploited by several people who lied about having legitimate businesses and instead used the money for luxury items. Several of the loans were disbursed to large, publicly traded companies and financial firms instead of small businesses that truly needed it.

Program Offerings

The program allowed small businesses to borrow up to 2.5 times their monthly average payroll costs. The loan could be forgiven in full if the small business owner retained employees for at least eight weeks after the loan was procured. Small business owners could also put a portion of the loan toward rent, utilities, and other specified expenses. The program’s loan administration was outsourced to the Small Business Administration (SBA) and a network of banks nationwide. Due to the high demand for loans, the SBA and banks involved were overwhelmed with having to administer 10 times the volume of loans they were used to.

Issues Discovered in the Program

Lack of a definition of what constituted a small business in order to be eligible for the program led to many large businesses partaking in the loans, even if they were able to withstand the financial stress of the pandemic. This limited the funds available to small business owners who truly needed them

Banks were also uncertain about how the loans should be distributed and how they would be forgiven. Because the program offered immediate loan processing, many banks could not look over paperwork and lacked the necessary documentation and materials to process the loans at the scale and demand presented. Many banks were inexperienced in administering the loans at the scale required. They had to process loans rapidly for which they were not prepared

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What should you expect when Lawyers

Hiring lawyers for a sensitive issue like divorce can be a long and strenuous process. You need someone right away yet you still have to look for the right one to understand and handle your case. Most of the people hardly have any idea what to expect from divorce lawyers in Mumbai.
In such situations, people feel vulnerable, lonely as they have no one else to turn to but their divorce attorney. This is why, it is crucial to select the right advocate having clear ideas regarding the expectations before hiring a divorce lawyer.
Five criteria for choosing lawyers

Always stay in touch with your lawyer

A good lawyer will always keep you in loop regarding the whereabouts of the case. As a client, you must know all divorce proceedings during the process. The best lawyers keep you updated with the progress of your case. They surely will just take the time to give you a phone call or email to keep you updated.
Consultation that fits your budget
Almost everything you do with a lawyer is going to be chargeable. While many divorce lawyers in Mumbai are willing to provide some aspects of their job pro bono to you, but sometimes just a simple consultation can be chargeable. All good attorneys will advise you straight away on the first point of contact. Generally, they are clear about what is going to cost you in advance and what is in the provision.
Attempt for settlement

Many of the divorce cases end up being settled by the court. This is quicker and painless as compared to a lengthy and strenuous court battle. Look for divorce lawyers in Mumbai who diligently strives to work out a settlement with the other side that meets all the needs from the client’s end

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Emerging Challenges Relating To Technology In India!!!

Exponential growth in the information technology domain marked the dawn of the 21st century. Continuing expansion in computing power will further ensure that newer and better technologies will continue to emerge at a pace faster than any other time in human history. The term ‘emerging technology’ can be defined as development of either a new technology or continuing advancement of existing technologies which may be widely available within the next few years. 3D printing, artificial intelligence, robotics, nanotechnology, 5G wireless communication, stem cell therapy and distributed ledger are a few examples of such technologies. Significant economic, social and military benefits can accrue for India by investing in emerging technologies and provide an impetus to its aspiration of being a major player in a multipolar world order. However, it will need to proactively address constraining factors such as India’s lack of quality education and its underdeveloped research and development (R&D) infrastructure to derive maximum benefit resulting from development of emerging technologies.

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