SBA Sends 562k Pandemic Loans To Bessent For Collections Totaling $22 Billion

SBA Sends 562k Pandemic Loans To Bessent For Collections Totaling $22 Billion The U.S. Small Business Administration (SBA) has announced a sweeping enforcement action targeting suspected pandemic-era loan fraud, referring more than 562,000 borrowers tied to $22.2 billion in delinquent loans to the U.S. Department of the Treasury for collection, according to the Small Business Association. The move marks the largest referral package in the agency’s history and signals a major escalation in federal efforts to recover funds distributed through COVID-19 relief programs. The loans in question stem from the Paycheck...