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flag The SBA suspended 111,620 California borrowers over $8.6B in suspected pandemic loan fraud.

flag The U.S. Small Business Administration has suspended 111,620 California borrowers linked to an estimated $8.6 billion in suspected pandemic-era loan fraud, primarily from the Paycheck Protection Program and Economic Injury Disaster Loan programs. flag SBA Administrator Kelly Loeffler said the action, part of a broader federal effort targeting about $200 billion in suspected fraud, aims to hold accountable those who misused funds and prevent future access to SBA programs. flag The move follows similar suspensions in Minnesota and comes amid claims by the SBA that fraud went unchecked under the previous administration. flag California’s Democratic Attorney General has dismissed the allegations as baseless, and the SBA continues investigating and working with federal partners to recover funds and pursue prosecutions.

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