SBA Cracks Down on $22 Billion in COVID Fraud
By Nicole Weatherholtz | Friday, 24 April 2026 04:04 PM EDT
The Small Business Administration has referred 562,000 suspected fraudulent pandemic-era loans totaling more than $22.2 billion to the Treasury Department for collection, according to the agency.
"From Day One, the Trump SBA has worked tirelessly to crack down on billions in pandemic-era fraud that the Biden Administration forgave or ignored," SBA Administrator Kelly Loeffler said in a statement.
The loans, largely tied to the Paycheck Protection Program and the COVID-19 Economic Injury Disaster Loan program, had been flagged for suspected fraud during the Biden administration but were never sent to Treasury for collection, the SBA said.
The agency accused the Biden administration of shielding suspected fraudsters by failing to pursue repayment, despite federal law requiring delinquent debts to be referred to Treasury.
https://www.newsmax.com/finance/streettalk/sba-jd-vance-treasury/2026/04/24/id/1254112/
