US EditionSBA says it has suspended '6,900 Minnesota borrowers' over suspected fraud
The SBA suspended 6,900 borrowers who received about $400 million in pandemic loans, banning them from future SBA programs and referring cases for prosecution.
- The U.S. Small Business Administration suspended 6,900 Minnesota borrowers for suspected fraud after reviewing pandemic-era PPP and EIDL loans.
- Agency data show about 7,900 pandemic-era Paycheck Protection Program and Economic Injury Disaster loans worth approximately $400 million were approved in Minnesota amid suspected misconduct.
- Referring appropriate cases to federal law enforcement, the SBA will seek prosecution and repayment, and federal officials say suspended borrowers will be banned from all SBA loan programs.
- The U.S. House Committee on Oversight and Government Reform scheduled hearings on Jan. 7 and Feb. 10, inviting Minnesota Gov. Tim Walz and Minnesota Attorney General Keith Ellison to testify Feb. 10.
43 Articles
43 Articles
Small Business Administration suspends 6,900 Minnesota borrowers over suspected fraud
Share This StoryU.S. Small Business Administrator Kelly Loeffler announced Thursday that her agency has suspended 6,900 Minnesota borrowers over suspected fraud. “In total, these borrowers were approved for 7,900 [Paycheck Protection Program] and [Economic Injury Disaster] loans worth approximately $400M,” said Loeffler, whose agency has reviewed thousands of “potentially fraudulent” Minnesota loans over the past week. “These individuals will be…
Trump SBA SUSPENDS Nearly 7,000 Minnesota Borrowers Amid Suspected PPP and EIDL Fraud
The Trump administration’s Small Business Administration announced Thursday that it has suspended 6,900 Minnesota borrowers after uncovering a widespread suspected fraud tied to COVID-19 relief programs.
Small Business Administration Comes Down on 6,900 Minnesota Borrowers Suspected of Fraud
The Small Business Administration is coming down hard on Minnesota companies suspected of fraud in the Paycheck Protection Program and Economic Injury Disaster Loan program, according to SBA Administrator Kelly […] The post Small Business Administration Comes Down on 6,900 Minnesota Borrowers Suspected of Fraud appeared first on The Western Journal.
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