PPP Loan #8822728610
BART REYNOLDS is a Sole Proprietorship located at Conway, AR with 1 employees. During round 1 of the paycheck protection program, BART REYNOLDS requested a PPP loan for 1200 USD. They were approved on 03/25/2021 by the SBA for an amount of 1200 USD. The loan was facilitated by First Security Bank, SEARCY, AR. Of the approved amount, BART REYNOLDS has received an amount of 1200 USD for payroll proceeds.
 PPP Loan details for BART REYNOLDS
Loan Amount 1200 USD
Current Approved Amount 1200 USD
Loan Tenure 60 months
Loan Approved on 11-06-2021
Area Code 72032-9515
SBA Code 669
NAICS Code 112111
Lender Bank First Security Bank
Lender Bank City SEARCY
Lender Bank State AR
 Demographic details for BART REYNOLDS
Race Unanswered
Ethnicity Unknown/NotStated
Gender Unanswered
Veteran Unanswered
Non Profit
Business Age Existing or more than 2 years old
Jobs Reported 1

How BART REYNOLDS Claims To Have Used Their PPP Funds of 1200 USD

As we have discussed earlier, BART REYNOLDS received a substantial amount of money through the SBA program. But have they used it correctly? Let’s analyze.

1BART REYNOLDS claims to have spent 1200 USD to pay salaries of 1 employees.


2BART REYNOLDS claims to have have been honest, ethical and deserving of this PPP Loan (8822728610) of 1200 USD.


3BART REYNOLDS claims to not have misused the PPP Loan in any ways.


These amounts were reported to the SBA by the company. Often, however, whistleblowers & employees reveal that their employers have abused their funds. If you think BART REYNOLDS has done something nefarious, then report them here using the review box at the bottom of the page.

What Constitutes A PPP Loan Scam? 

The primary goal of PPP loans was to help businesses survive the pandemic and ensure that people don’t lose their employment. Businesses who took out these loans could spend the borrowed sum on:

    • Salaries, bonuses, commissions, wages (maximum $100,000 per annum per employee)
    • Insurance premiums
    • Employee allowances (sick leaves, medical, parental, and vacation pay)
    • Operational expenditure
    • Utility payments
    • Mortgage interest payments

Federal authorities are aggressively targeting individuals and companies for PPP loan fraud. Launched in March 2020 in response to the economic uncertainty that was triggered by the novel coronavirus (COVID-19) pandemic, the PPP made hundreds of millions of dollars in federal funding available to businesses struggling as a result of the pandemic. Loans issued under the PPP carry a 1% interest rate, but the loans are completely forgivable if certain conditions are met.

The low-cost (and potentially free) funds offered under the PPP have proven to be attractive not only to struggling businesses, but also to larger companies and scam artists. This has led to worry of widespread fraud (and a few highly-publicized cases of fraudulent PPP loan applications), and it has forced numerous federal agencies to turn their attention to combatting PPP loan fraud.

Penalties For Abusing Or Wasting The PPP Funds:

When a person is charged with PPP loan scam charges, they can face multiple civil and criminal penalties. Even a single PPP loan fraud case might involve multiple criminal laws.

You can face a penalty of up to 20 years behind bars.
  • The first charge would be wire fraud. It invokes 18 USC Sec. 1343 and involves the use of a phone or internet to scam another party by using false statements.
  • Bank fraud charges might also be filed against you. It invokes 18 USC Sec. 1344 and involves making false statements to a financial institution such as a bank. The penalty for this charge goes up to 30 years behind bars.
  • A PPP loan fraud also includes making false statements to a financial institution, a federal crime. It invokes 18 USC Sec. 1014 and its violation leads to a jail 14 of up to 30 years.
  • Finally, when you commit a PPP loan scam, you violate 18 USC Sec. 1349, conspiracy to commit fraud. It is a criminal offense when someone colludes with others in violating or attempting to violate federal laws whether they obtained money or not.
The authorities have been rather vigilant in finding people who committed PPP loan frauds.

The above are just two instances of people getting caught by the authorities for this scam. Here’s another:

Frequently Asked Questions About PPP Loan Scam

Did BART REYNOLDS get a PPP loan?

Yes. BART REYNOLDS applied and was granted a PPP loan

How much PPP Loan did BART REYNOLDS receive?

1200 USD

Where is BART REYNOLDS located?

BART REYNOLDS is located in Conway,AR

How much did BART REYNOLDS's PPP loan went towards paying salaries?

As per BART REYNOLDS, 1200 USD went towards payroll proceeds

Which bank financed BART REYNOLDS's PPP Loan?

First Security Bank in SEARCY,AR financed BART REYNOLDS’s PPP Loan

What is the term for BART REYNOLDS's PPP loan?

60 months

How many employees were reported by BART REYNOLDS in their PPP loan application?


How much of BART REYNOLDS's PPP loan was forgiven?

1206.3 USD was forgiven on 10-06-2021

Footnotes and Citations

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. does not modify the data and makes no claims regarding its accuracy, nor will entertain any request to remove any entry.

The inclusion of a person or entity in the IIAS Database is not intended to suggest or imply that they have engaged in illegal or improper conduct related to PPP Loan (scam). IIAS intends to offer a platform where suspicious activities related to PPP loan can be shared and discussed in a secure environment. Please contact us if you find an error in the database.

What BART REYNOLDS’s Employees and Consumers can do to report potential PPP Scam?

There is no record of BART REYNOLDS committing any sort of PPP Scam reported anywhere. However, that can change quickly, and this page allows employees, citizens and consumers to share information on BART REYNOLDS they are privy to, and expose any/all wrongdoings.

4 Total Score
User Rating for BART REYNOLDS

BART REYNOLDS took out a PPP loan worth $1200 for Payroll Processing for it's 1 employees. As tax-payers, we need to hold businesses accountable and ask serious questions. Our rating on BART REYNOLDS is based on multiple factors, including publicly available information, reviews and user notifications.

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