- Feb 5, 2002
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'@DOGE and @SBAgov are working together to solve this problem this week'
The Department of Government Efficiency (DOGE) announced a further wave of contract terminations late Saturday, noting that they also identified thousands of cases where more than $300 million in loans were granted to children.
The announcements come as the Elon Musk-led agency continues to root out waste, fraud and corruption in the federal government.
DOGE said it identified that the Small Business Administration (SBA) granted nearly 5,600 loans for $312 million to borrowers whose only listed owner was 11 years old or younger at the time of the loan. The loans were issued in 2020 and 2021 – while the world struggled with the COVID-19 pandemic – and it is unclear what they were used for.
"While it is possible to have business arrangementswhere this is legal, that is highly unlikely for these 5,593 loans, as they all also used an SSN with the incorrect name," the agency wrote.
Continued below.
DOGE says $312M in loans were given to children during COVID pandemic
DOGE announced a further wave of contract terminations and said it has identified $312 million worth of loans issued to children aged 11 and younger.
