5th Circuit Affirms SBA PPP Loan Forgiveness Denial Based On Initial Ineligibility

( August 7, 2025, 2:30 PM EDT) -- NEW ORLEANS — Finding that “[n]either text nor common sense” justifies Paycheck Protection Program (PPP) loan forgiveness sought by a Texas truck dealer, a Fifth Circuit U.S. Court of Appeals panel on Aug. 6 affirmed the judgment of a Texas federal court upholding the Small Business Administration’s (SBA) determination that the dealer was not initially eligible for the PPP loan it received and thus ineligible for loan forgiveness....