The Department of Government Efficiency (DOGE) announced a further wave of contract terminations late Saturday, noting that they also identified thousands of cases where more than $300 million in loans were granted to children.
DOGE said it identified that the Small Business Association (SBA) granted nearly 5,600 loans for $312 million to borrowers whose only listed owner was 11 years old or younger at the time of the loan. The loans were issued in 2020 and 2021 – while the world struggled with the COVID-19 pandemic – and it is unclear what they were used for.
“While it is possible to have business arrangements where this is legal, that is highly unlikely for these 5,593 loans, as they all also used an SSN with the incorrect name,” the
agency wrote.
PPP and EIDL Too
When making the announcement, DOGE shared a post on X from Tuesday when it also revealed that in 2020 and 2021 the SBA issued 3,095 loans for $333 million to borrowers over 115 years old.
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“@DOGE and @SBAgov are working together to solve this problem this week,” they added.
The borrowers were still marked as alive in the Social Security database. In one case, the agency said a 157-year-old individual received $36,000 in loans, including PPP (Paycheck Protection Program) and EIDL (Economic Injury Disaster Loan) loans.
I’m sure they are all good for it.
Millions in loans for 11 year olds? The free for all
Presidency —autopen utopia shielded by USAID kissed media and spine rehab lawmakers …who looked the other way.DOGE said it identified that the Small Business Association (SBA) granted nearly 5,600 loans for $312 million to… pic.twitter.com/CTmLmhz9Sn
— Tosca Austen (@ToscaAusten) March 9, 2025
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