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Kelly Loeffler With Trump Admin – Paycheck Protection Program (PPP) Loans Fraud

I’m particularly hurt by the (PPP) fraud because they’re some of our biggest taxpayers in the country. They show up every day. They work hard to provide for their employees, to build their small businesses. They’re working, they’re doing it the honest way. They see fraudsters taking from the American people. It’s taxpayer money.

What is Happening to the Small Business Administration PPP Loans Fraud?

So you think about at the Small Business Administration (SBA), we found $200 billion in Paycheck Protection Program (PPP) Loans that the Biden administration tried to hide and forgive and sweep under the rug. We’ve turned the first $22 billion of that over to Treasury for collections and to DOJ for prosecution. Our inspector general is already announcing that people are going to jail. There are jail sentences now being served.

What Happens to the Guilty “People” Who Got the PPP Loans?

We’ve announced that 140,000 people have been barred from ever getting SBA loans again, defrauding the government for about $9 billion. So we are going to continue our work under the great leadership of Vice President Vance and appreciate the partnership because it’s really accelerated our ability to get the job done. Then just back to small businesses, we have record business.

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