U.S. Small Business Administration bans nearly 7,000 Minnesota borrowers from loan programs [View all]
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Source: KTTC
WASHINGTON, D.C. (KTTC) – On Thursday, Administrator of the U.S. Small Business Administration (SBA) Kelly Loeffler announced on X that the SBA has banned nearly 7,000 Minnesota borrowers from all SBA loan programs.
In Loeffler’s X post, she says SBA has reviewed thousands of potentially fraudulent pandemic-era PPP and EIDL loans approved in the state of Minnesota, before stating the agency took action to suspend 6,900 Minnesota borrowers in the midst of suspected fraudulent activity.
In total, Loeffler says these borrowers were approved for 7,900 PPP and EIDL loans worth about $400 million. These individuals will now reportedly be banned from all SBA loan programs, which include disaster loans.
Read more: https://www.kttc.com/2026/01/02/us-small-business-administration-bans-nearly-7000-minnesota-borrowers-loan-programs/?outputType=amp
More revenge enforcement for my home state.
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