Biden signed two laws on last Friday to allow the Justice Department extra time to look into and prosecute loan scams, targeting PPP scams.
A West Virginia lady admitted to accepting more than $42,250 loans through a PPP program.
The recently passed legislation enjoyed strong bipartisan support in Congress.
More than 15% of PPP loans had at least one red flag for possible fraud.
Of the 11.8 million loans made under the PPP, about 1.8 million had fraud indicators.
The SBA's Office of Inspector General discovered potentially fraudulent EIDL loans totaling $78.1 billion in October 2020.
Convicted of defrauding PPP loans out of $1.7 million was a restaurant owner from Charlotte and his son.
Over 70,000 PPP loans worth over $4.6 billion that were possibly fraudulent were found by the watchdog last year.
After firms had to close due to Covid, PPP assisted small enterprises in paying their employees.
The biggest percentage of dubious PPP loans was among fintech lenders, insiders warned Govt.