SBA Admin. Loeffler on PPP Loans: Biden Admin Tried to Systemically Forgive Known Fraudsters

EXCERPT:

LOEFFLER: "From day one, the Trump SBA has been squarely focused on eliminating waste fraud abuse in the federal government with a zero tolerance policy on fraud. And, certainly, we know that during the pandemic, there were billions of dollars worth of fraudulent dollars taken out of the programs. Unfortunately, during the Biden Administration, there were known fraudsters that they tried to forgive their SBA loans. Now, keep in mind, the SBA had the PPP program and the economic injury disaster loan, also known as IDL program. It totaled $1.2 trillion. And our own Office of Inspector General estimated that about $200 billion was fraudulently taken. And that’s what’s was frustrating. When we came in, we knew that the Biden administration had gone in and tried to systemically forgive known fraudsters.”