SBA Suspends 111,620 California Borrowers Over PPP & EIDL Fraud - Facts vs. Claims
- F.I. Editorial Team
- 2 hours ago
- 3 min read
The Small Business Administration (SBA), under Administrator Kelly Loeffler, announced the suspension of 111,620 California-based borrowers. The move targets roughly $8.6 billion in loans from the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, citing a massive failure in oversight.
While the number of suspensions is staggering, the narrative surrounding the announcement, which was similar to the Minnesota crackdown announcement, specifically the claim that the previous administration "tolerated" this corruption, requires a rigorous look at the facts.
