Trump SBA Refers $22 Billion in Suspected Biden‑Era COVID Loan Fraud to Treasury for Collection
The Small Business Administration (SBA) announced Thursday that it had launched an unprecedented crackdown on fraudulent Biden-era loans made ostensibly to help businesses weather the brunt of the manufactured financial disaster enabled by COVID. Led by Vice President JD Vance’s White House Task Force to Eliminate Fraud (see Trump Signs Task Force EO Launching ‘Whole of Government’ Assault on Fraud – RedState), the SBA announced it had referred 562,000 suspected fraudulent Paycheck Protection Program (PPP) and COVID Economic Injury Disaster Loans (EIDL)—worth $22.2 billion—to the U.S. Treasury for collection. This marks a 180-degree turn from the Biden administration’s policy of turning a blind eye to fraud, whether in Supplemental Nutrition Assistance Program (SNAP) benefits, Medicaid, or immigration. In fact, all 562,000 targets of this enforcement action had been identified by the Biden administration as fraudulent, but it decided to do nothing.
Source: https://redstate.com/streiff/2026/04/26/trump-sba-refers-22-billion-in-suspected-bidenera-covid-loan-fraud-to-treasury-for-collection-n2201719
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