{"id":120095,"date":"2026-02-06T21:30:22","date_gmt":"2026-02-07T02:30:22","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/sba-freezes-over-100000-california-borrowers-in-sweeping-9b-pandemic-fraud-crackdown-120095"},"modified":"2026-02-06T21:30:22","modified_gmt":"2026-02-07T02:30:22","slug":"sba-freezes-over-100000-california-borrowers-in-sweeping-9b-pandemic-fraud-crackdown","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/sba-freezes-over-100000-california-borrowers-in-sweeping-9b-pandemic-fraud-crackdown-120095","title":{"rendered":"SBA freezes over 100,000 California borrowers in sweeping $9B pandemic fraud crackdown"},"content":{"rendered":"
\n

The Small Business Administration (SBA) announced Friday that it suspended more than 100,000 California borrowers<\/a> amid suspected fraud, with the alleged abuse totaling nearly $9 billion.<\/p>\n

SBA Administrator Kelly Loeffler said the agency suspended 111,620 California borrowers tied to suspected fraudulent activity across SBA pandemic-era loan programs. Those borrowers received 118,489 Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) loans totaling more than $8.6 billion.<\/p>\n

“Once again, the Trump SBA is taking decisive action to deliver accountability in a state whose unaccountable welfare policies have created a culture of fraud and abuse at the expense of law-abiding taxpayers and small business owners,” Loeffler said in a statement.<\/p>\n

HOUSE REPUBLICANS CALL MINNESOTA FRAUD PROBE ‘TIP OF THE ICEBERG’ AS MORE BLUE STATES FACE SCRUTINY<\/strong><\/a><\/p>\n

“Today, we announced we have suspended nearly 112,000 borrowers tied to at least $9 billion in suspected fraud,” she said. “This staggering number represents the most significant crack-down on those who defrauded pandemic programs, and it illuminates the scale of corruption that the Biden Administration tolerated for years.”<\/p>\n

Loeffler referenced the Trump administration\u2019s fraud crackdown in another blue state, saying, “As we did in Minnesota<\/a>, we are actively working with federal law enforcement to identify the criminals who defrauded American taxpayers, hold them to account, and recoup the stolen funds.”<\/p>\n

She added that, “As we continue our state-by-state work, our message is clear: pandemic-era fraudsters will not get a pass under this Administration<\/a>.”<\/p>\n

GOP SENATORS LAUNCH TASK FORCE TO CRACK DOWN ON FRAUD TIED TO MINNESOTA SCANDAL<\/strong><\/a><\/p>\n

The announcement comes after the SBA said last month that it suspended 6,900 Minnesota borrowers after uncovering what it said was widespread suspected fraud<\/a>.<\/p>\n

The agency previously reviewed thousands of PPP and EIDL loans approved<\/a> in Minnesota, identifying nearly $400 million in potentially fraudulent loans tied to borrowers.<\/p>\n

That suspected activity included 7,900 PPP and EIDL loans approved during the COVID-19 pandemic, according to Loeffler.<\/p>\n

The SBA previously said that at least $2.5 million in PPP and EIDL funds issued during the pandemic era were connected to a Somali-linked fraud scheme<\/a> based in Minneapolis.<\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/politics\/sba-freezes-100000-california-borrowers-sweeping-9b-pandemic-fraud-crackdown <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Small Business Administration (SBA) announced Friday that it suspended more than 100,000 California borrowers amid suspected fraud, with the alleged abuse totaling nearly $9 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-120095","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nSBA freezes over 100,000 California borrowers in sweeping $9B pandemic fraud crackdown - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/sba-freezes-over-100000-california-borrowers-in-sweeping-9b-pandemic-fraud-crackdown-120095\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBA freezes over 100,000 California borrowers in sweeping $9B pandemic fraud crackdown - 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