Kelly Loeffler
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SBA Administrator Kelly Loeffler said the agency suspended over 111,000 California borrowers linked to suspected fraudulent activity.
She says it's tied to SBA pandemic-era loan programs involving the Paycheck Protection Program and the Economic Injury Disaster Loans totaling more than $8.6 billion.
The announcement comes after the SBA said last month it had suspended 6,900 Minnesota borrowers after uncovering what it said was widespread suspected fraud.
California's Democratic Attorney General denied the report, calling the claims baseless.
Debra Valentine, Fox News.
SBA Administrator Kelly Loeffler said the agency suspended over 111,000 California borrowers linked to suspected fraudulent activity.
She says it's tied to SBA pandemic-era loan programs involving the Paycheck Protection Program and the Economic Injury Disaster Loans totaling more than $8.6 billion.
The announcement comes after the SBA said last month it had suspended 6,900 Minnesota borrowers after uncovering what it said was widespread suspected fraud.
California's Democratic Attorney General denied the report, calling the claims baseless.
Deborah Valentine, Fox News.
Between tax cuts, deregulation, fair trade, we see jobs and opportunities coming back to America, and then $18 trillion of investment coming in.
A lot of that's going to play out on Main Street, and that's why small business optimism, according to the U.S.
Chamber, is at all-time highs.
And you've got consumer confidence on the rise again.
So consumers know that the best is yet to come.
Fraud investigators are finding in Minnesota is growing by the day.
Kelly Loeffler, who leads the Small Business Administration, says in the two days her agency has been investigating the state, they've uncovered at least a million dollars in PPP fraud just two days in.
Several of the whistleblowers in Minnesota have also told lawmakers they believe the total amount of fraud could total up to more than $8 billion.
Governor Tim Walz, who is up for reelection, is under fire for all of this happening under his watch.
But he says they have paused these programs.