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Elon Musk Backs Crackdown On SBA Loans After $333 Million Went To Borrowers Over 115 Years Old - Tesla (NASDAQ:TSLA)

Summary by Benzinga
Tesla Inc. CEO Elon Musk endorsed new loan verification measures implemented by the Small Business Administration, highlighting concerns about fraudulent applications using stolen Social Security numbers.

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India TodayIndia Today
Lean Right

No more loans to babies or the dead: Elon Musk on SBA Fraud

DOGE, led by Elon Musk, set an age limit for SBA loan applicants after discovering millions were fraudulently issued to people over 115, highlighting misuse of Social Security numbers.

·India
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WNDWND
Far Right

Elon Musk slams fraudulent lending to infants and the deceased using stolen Social Security numbers * WorldNetDaily * by WND Staff

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·Medford, United States
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BenzingaBenzinga
Center

Elon Musk Backs Crackdown On SBA Loans After $333 Million Went To Borrowers Over 115 Years Old - Tesla (NASDAQ:TSLA)

Tesla Inc. CEO Elon Musk endorsed new loan verification measures implemented by the Small Business Administration, highlighting concerns about fraudulent applications using stolen Social Security numbers.

·New York, United States
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asbn.comasbn.com

SBA implements new loan rules, slashes workforce amid fraud concerns

The Small Business Administration (SBA) is tightening loan application requirements and downsizing its workforce after a federal review uncovered fraudulent lending practices. The changes follow an investigation by the Department of Government Efficiency (DOGE), which revealed that billions in loans were disbursed to individuals of improbable ages—including a 157-year-old recipient. In a post on social media platform X, the DOGE announced two ke…

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Benzinga broke the news in New York, United States on Monday, March 24, 2025.
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