Corporate Whistleblower Center Urges a Manager of a Nursing Home Anywhere in the USA That Received a COVID PPP Loan-To Call About Rewards-If the Owners Never Spent the Funds on Payroll

    WASHINGTON, DC, June 25, 2024 /24-7PressRelease/ -- The Corporate Whistleblower Center says, "If you are a healthcare manager-especially one who works for a nursing home-long term care facility, and you know your employer received a Paycheck Protection Program- PPP loan-please call us at 866-714-6466 if you are certain your employer did not spend at least 60% of the loan proceeds on payroll. Whistleblower's rewards for this type of information might be 10% of the loan amount.

"We have found instances in numerous states where nursing home chains received a Paycheck Protection Program loan for each of their facilities, and rather than applying the loan proceeds to payroll, they used money to buy more nursing homes. In some of these types of instances the whistleblower rewards might exceed a million dollars.

"We now also know at least some banks-financial institutions that acted as a broker for these Small Business Administration PPP loans did no due diligence on the healthcare company and or their loan application. In one instance we discovered a long-term care company with one tiny facility under 45 beds that received a $2,000,000 PPP loan. This long-term care facility claimed to have over 225 employees. This also translates into 5 employees per patient.

"If you work for a bank-financial institution that was involved in Paycheck Protection Program loan origination in 2020-2021 please give us a call at 866-714-6466-if your employer told loan officers to do no due diligence on PPP loans. The whistleblower rewards for this type of information might be millions of dollars-especially if the bank or financial institution is publicly traded." https://CorporateWhistleblowerCenter.Com

The Paycheck Protection Program-PPP loans were designed by Congress to assist companies that were struggling because of COVID. These PPP loans were almost always forgiven by the federal government, even if the healthcare company did not abide by the loan terms. There were three very simple rules for Paycheck Protection Program loans that borrowers were supposed to adhere to.

1. The company applying for a Paycheck Protection Program loan was not supposed to have more than 500 employees.

#2. The company that received a Paycheck Protection Program loan was supposed to use at least 60% of the loan proceeds on payroll-staff retention.

#3. The Paycheck Protection Program loan was supposed to be necessary.

The Corporate Whistleblower Center has the best branded initiative in the nation focused on healthcare companies including nursing homes that received a Paycheck Protection Program-PPP loan from the federal government in 2020, 2021 or both, and then violated the terms of the loan by not allocating at least 60% of the loan proceeds to payroll, by having more than 500 employees, or by obtaining a PPP loan that was not necessary. A potential whistleblower with proof of significant PPP loan fraud is welcome to call the Corporate Whistleblower Center at 866-714-6466 for more information. https://CorporateWhistleblowerCenter.Com

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