Skip to content
Subscriber Only

Software Company Sues to Avoid Repaying $750,000 PPP Loan

Washington As Trump's Dire Forecast Reinforces Outlooks For Deep Economic Hit
Photographer: Andrew Harrer/Bloomberg
Updated on

A California software company that received a federal Paycheck Protection Program loan of more than $750,000 sued the government over new guidelines attempting to restrict who can get such assistance.

Zumasys Inc. said in a suit filed Monday against the Small Business Administration and Treasury Department that it is now concerned it will have to pay back the forgivable loan the company and its two subsidiaries received in mid-April, some of which has already been spent to keep nearly 70 employees on payroll.