SBA Protection Paycheck

SBA, Minnesota

SBA suspends nearly 7,000 Minnesota borrowers over suspected $400M pandemic loan fraud

The Small Business Administration (SBA) announced Thursday that it suspended 6,900 Minnesota borrowers after uncovering what it says is widespread suspected fraud.

· 3d · on MSN

SBA says it has suspended ‘6,900 Minnesota borrowers’ over suspected fraud

KAAL TV · 2d

SBA freezes loans for 7,000 Minnesota borrowers amid fraud probe

· 2d

Trump unleashes Minnesota fraud crackdown as feds freeze nearly 7,000 borrowers over $400m scam

The Trump administration has suspended 6,900 borrowers over suspected Covid loan fraud involving roughly $400 million of taxpayer funds in Minnesota.

· 2d

Democrats accuse Trump of politicizing Minnesota fraud as more is uncovered program

· 2d

Minnesota $400 Million Fraud Explodes: Trump Suspends Nearly 7,000 Borrowers Amid Scandal

Business.com on MSN

SBA loan forgiveness for PPP, EIDL and 7(a) loans

PPP loans are fully forgivable if requirements are met. EIDL loans advance up to $15,000 don't require repayment. Other SBA loans must be repaid in full.

6don MSN

SBA head Kelly Loeffler says agency pausing grants to Minnesota over fraud investigation

"SBA is pausing annual funding to Minnesota while we investigate $430 million in suspected PPP fraud across the state," Kelly Loeffler said.

abc7NY

What small businesses need to know about getting aid during coronavirus outbreak

Millions of small business owners will be turning to the government, seeking help for an individual and nationwide cataclysm, the economic devastation caused by the coronavirus outbreak. The government says it will begin disbursing loan money to company ...