The Department of Government Efficiency (DOGE) wrote on X (formerly Twitter): "In 2020-2021, SBA issued 3,095 loans, including PPP (Paycheck Protection Program) and EIDL (Economic Injury Disaster Loan), for $333M to borrowers over 115 years old who were still marked as alive in the Social Security database. In one case, a 157-year-old individual received $36k in loans.
Note:
- issuing social security checks to people who are clearly deceased (if they exist at all)
- issuing loans to those same people
This is a massive fraud red flag. Over 20M "people" listed as 100+ years old in SS database? Time for a serious audit. Either we've got immortal gaming the system or some major data integrity issues. The fraud, waste, and abuse here is probably so large that most people simply won't believe it! Fired those who were responsible for not doing their job at the Administrations and prosecute those receiving the funds.
SBA Loans: Millions Sent to Borrowers Over 115
Proposing immediate legislation: Mandatory annual verification of SS recipients over 100. We're losing billions to ghost claims. Time to drain this swamp and protect taxpayer money. There's a difference of nearly 60 million people between how many social security numbers there are and how many people living there are in the United States. These numbers suggest we're already losing billions on fraudulent claims. I need an emergency audit before discussing doomsday scenarios.
I welcome DOGE to SBA. I am a business consultant and have worked with the SBA on behalf of small companies for 5 years. The process for fraud is ineffective, but it makes it very challenging for companies that are eligible for these loans to get through the system. I have had so many issues with one SBA agent talking to another SBA agent, and they say it's their problem and then the other one says it's their problem. All the time, while the small business is sitting there feeling helpless.
SBA needs to be investigated and improved and the technology that they use needs to have someone who knows what they're doing. Doge is a breath of fresh air to stogy old systems that need to be audited and repaired.
The Department of Government Efficiency (DOGE) wrote on X (formerly Twitter): "In 2020-2021, SBAgov issued 3,095 loans, including PPP (Paycheck Protection Program) and EIDL (Economic Injury Disaster Loan), for $333M to borrowers over 115 years old who were still marked as alive in the Social Security database. In one case, a 157-year-old individual received $36k in loans.
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