Anonymous asked in Business & FinanceSmall Business · 1 month ago

If someone files for the SBA covid disaster loan but they are not a business owner and they get money, what will happen?

2 Answers

  • 1 month ago

    I'd be surprised if the lender would agree to a loan without some kind of verification that would qualify the borrower.

    If someone filed for the loan based on giving false information on the application, that would be as bad or worse than having to pay the money back. It's not like if your next door neighbor lent you money. The government is not who you want to be in debt with.

  • Anonymous
    1 month ago

    They won't get money but if they were to, they would go to prison for fraud.  Maybe probation if its your first criminal offense, then they pay it back & court costs, interest & fines. Not to mention thousands for an attorney.

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