A federal appeals court has denied BMW of Springfield’s request for partial relief from repaying its $2 million Paycheck Protection Program loan, ruling that the dealership group violated borrowing limits. The decision follows an earlier finding that the company exceeded the PPP’s size restrictions for small businesses. Legal experts suggest the case could set a precedent for similar disputes over loan eligibility. The ruling underscores ongoing scrutiny of PPP funds amid investigations into fraud and misuse.
A federal appeals court rejected BMW of Springfield’s bid for partial forgiveness of a $2 million PPP loan after its dealership group exceeded a borrowing cap.
