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Small Business Administration IG: SBA potentially approved $78B of inappropriate disaster aid loans

Discussion in 'American Politics' started by essentialsaltes, Oct 29, 2020.

  1. essentialsaltes

    essentialsaltes Stranger in a Strange Land

    United States
    Legal Union (Other)

    The SBA's inspector general in a new report raised red flags about more than $78 billion in aid approved for businesses under the agency's Economic Injury Disaster Loan program — about 37 percent of the total amount doled out — and warned that billions might have been fraudulently obtained or directed to ineligible businesses.

    Investigators cited $58 billion disbursed in multiple loans to businesses that used the same IP addresses, email addresses, bank accounts or the same physical addresses. About $13.4 billion went into accounts that differed from those listed on initial loan applications.
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  2. iluvatar5150

    iluvatar5150 Well-Known Member

    United States