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3rd Circ. Says Contractor Payments Not Payroll Costs For PPP

By George Woolston ( February 3, 2026, 5:17 PM EST) -- The Third Circuit sided with the Small Business Administration on Tuesday in the case of an IT company seeking full forgiveness of a $7.2 million Paycheck Protection Program loan, ruling that the SBA was within its rights to deny forgiveness because the company's payments to independent contractors did not count as "payroll costs."...

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