SBA 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.
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Trump Admin Halts Loans to 7,000 Borrowers in Tim Walz’s Minnesota Over Fraud Concerns.
PULSE POINTSWHAT HAPPENED: Nearly 7,000 Minnesota borrowers were suspended by the Small Business Administration (SBA) over suspected pandemic-era loan fraud.WHO WAS INVOLVED: SBA Administrator Kelly Loeffler, citizen journalist Nick Shirley, and Somali-linked networks operating daycare centers in Minnesota.WHEN & WHERE: Minnesota, with actions announced on Thursday, January 1, 2026.KEY QUOTE: “After years, the American people will finally begin …
Trump SBA Suspendes Thousands Of Borrowers Over $400 Million In Pandemic Loan Fraud In One Blue State Alone - The American Tribune.com
The Trump Administration is digging into the massive fraud that was allowed to occur over the Biden years, and the results of that investigation continue to be absolutely horrifying, with the government finding massive amounts of fraud, theft, waste, and abuse. The Small Business Administration (SBA), in fact, just found $400 million more in fraud in Minnesota alone. Such is what SBA Administrator Kelly Loeffler announced in a post on X made in …
SBA freezes nearly 7,000 Minnesota small business loans amid fraud probes
In its latest response to suspected fraud in Minnesota, the Trump administration has suspended nearly 7,000 small business loans amid concerns about abuse in pandemic-era lending… The post SBA freezes nearly 7,000 Minnesota small business loans amid fraud probes appeared first on CatholicVote org.
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