US EditionSBA cracks down on loan fraud with new verification rules
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SBA cracks down on loan fraud with new verification rules
The U.S. Small Business Administration (SBA) announced new verification requirements designed to combat fraud in its loan programs. The reform ensures that only eligible American small businesses benefit from federal aid. The changes were implemented with the help of Elon Musk’s Department of Government Efficiency (DOGE), which discovered systemic fraud involving ineligible applicants. DOGE found over $630 million in fraudulent loans paid out to…
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