Tag: sba

Trump SBA SUSPENDS Nearly 7,000 Minnesota Borrowers Amid Suspected PPP and EIDL Fraud

The Trump administration’s Small Business Administration announced Thursday that it has suspended 6,900 Minnesota borrowers after uncovering a widespread suspected fraud tied to COVID-19 relief programs.

According to the agency, an internal review of Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) approvals in Minnesota revealed nearly $400 million in potentially fraudulent loans—money that was supposed to keep small businesses afloat and American workers employed during the pandemic.

SBA Administrator Kelly Loeffler said the agency reviewed thousands of pandemic-era loans approved in Minnesota and identified 7,900 PPP and EIDL loans connected to the suspended borrowers.

In a blunt statement posted to X, Loeffler laid out the scope of the action:

“Over the last week, SBA has reviewed thousands of potentially fraudulent pandemic-era PPP and EIDL loans approved in Minnesota.

Today, our agency took action to suspend 6,900 Minnesota borrowers amid suspected fraudulent activity. In total, these borrowers were approved for 7,900 PPP and EIDL loans worth approximately $400M.

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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SBA HALTS $5.5 MILLION in Funding to Minnesota After Explosive Findings Tie Somali Fraud Ring to Millions in PPP Loans

The Small Business Administration (SBA) has halted more than $5.5 million in annual federal funding to Minnesota after explosive findings revealed that individuals tied to the infamous $1 billion Somali fraud scheme also received millions in taxpayer-backed Paycheck Protection Program (PPP) loans.

SBA Administrator Kelly Loeffler announced the funding freeze Tuesday in a scathing post on X, directly notifying Democrat Governor Tim Walz that his state can no longer be trusted with federal tax dollars.

Loeffler wrote on X:

Today, I informed Governor Tim Walz that SBA is halting $5.5 million in annual funding to Minnesota pending further review.

This action follows alarming findings: individuals indicted in the $1 billion Somali fraud scheme also received at least $3 million in PPP loans, and SBA has since identified 13,600 additional PPP loans in Minnesota – totaling $430 million – suspected as fraudulent.

With dozens of investigations underway, the conclusion is unavoidable: Minnesota cannot be trusted to administer federal tax dollars. Its socialist welfare system has enabled fraud at industrial scale, at the expense of honest Americans – and these are the consequences.

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Small Business Administration Uncovers $1M Somali Community Fraud in Minnesota

The Small Business Administration has discovered that the fraud among the Somali community in Gov. Tim Walz’s Minnesota is still growing with its finding of one million dollars in PPP loan fraud.

Trump-appointed Small Business Administrator Kelly Loeffler took to her X account to report finding the massive fraud of the Paycheck Protection Program (PPP) that was launched to save businesses struggling to survive the oppressive government policies meant to address the COVID crisis in 2020.

“Numerous individuals and nonprofits indicted in the $1 billion Minnesota COVID fraud scandal, including Feeding Our Future, received SBA PPP loans in addition to other state and federal funding,” Loeffler wrote. “I have ordered an investigation into the network of Somali organizations and executives implicated in these schemes.”

“Despite Governor Walz’s best efforts to obstruct, SBA continues to work to expose abuse and hold perpetrators accountable, full stop,” she said.

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“Widespread Misconduct”: Trump Admin Orders All Beneficiaries Of Nation’s Largest DEI Program To Surrender Financial Records

The Daily Wire has learned that the Small Business Administration has ordered all 4,300 firms in its 8(a) “socially disadvantaged” program, which receive no-bid federal contracts, to turn over their financial records, including general ledgers, bank statements, payroll files, subcontracting agreements, and other internal documents, by January 5 or face removal from the program.

SBA’s crackdown on one of Washington’s oldest DEI initiatives follows mounting evidence that some 8(a) firms have become a major pipeline for fraud, pass-through schemes, and artificially inflated contract costs.

Late last month, Peter Schweizer, president of the Government Accountability Institute and the investigative journalist who broke the Clinton Cash corruption story, published a report exposing the cronyism and corruption inside the 8(a) program, where pass-through firms handed bidless contracts on silver platters while quietly outsourcing the real work to major consulting companies.

“For years, DC insiders have exploited a federal DEI contracting program that provides windfalls to Beltway elites. This open secret isn’t about helping the downtrodden; it’s about bagging no-bid paydays. The SBA’s 8(a) program is long overdue for reform,” Schweizer wrote on X.

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