US EditionSBA Sends 562k Pandemic Loans To Bessent For Collections Totaling $22 Billion
6 Articles
6 Articles
The Working Group on the Elimination of Fraud found a possible case during the Biden Administration, related to a loan program launched during the Covid-19 pandemic. Together with the group led by JD Vance, the Small Business Administration (SBA) denounced a fraudulent scheme involving 562,000 loans totalling $22.2 billion. Months after two episodes of possible public-funded fraud drew national attention in Minnesota and Massachusetts, the White…
SBA Moves to Collect $22B in Suspected Fraud Loans
WASHINGTON, D.C. — More than 560,000 borrowers tied to $22.2 billion in suspected pandemic-era loan fraud could soon face collections and potential investigations after the U.S. Small Business Administration referred the cases to federal agencies, marking the largest action of its kind. What This Means for You Federal agencies will begin collecting overdue pandemic relief loans tied to suspected fraud Some borrowers may face investigations or l…
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