… 7,900 PPP and EIDL loans worth approximately $400M.Over the last week, SBA has reviewed thousands of potentially fraudulent pandemic-era PPP and EIDL loans approved in Minnesota.
— Kelly Loeffler (@SBA_Kelly) January 2, 2026
Today, our agency took action to suspend 6,900 Minnesota borrowers amid suspected fraudulent activity. In total, these borrowers were approved for…
These individuals will be banned from all SBA loan programs, including disaster loans, going forward. We will also refer every case, where appropriate, to federal law enforcement for prosecution and repayment.
After years, the American people will finally begin to see the criminals who stole from law-abiding taxpayers held accountable - and this is just the first state.
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