Congress Hears on SBA Loan Misconduct in Minnesota

SBA suspends 6,900 Minnesota borrowers for fraud after reviewing PPP/EIDL loans.
7,900 pandemic-era loans worth $400M were approved with suspected misconduct.
SBA refers cases to law enforcement and bans suspended borrowers from all loan programs.
House Oversight Committee schedules hearings for Jan 7 and Feb 10 in Minnesota.

Fraud | Loan Regulation | Government Oversight

United States

Keith Ellison | Tim Walz

2 weeks ago