SBA Administrator Kelly Loeffler announces a major federal crackdown on suspected pandemic-era fraud, saying the agency has suspended 870,000 SBA borrowers tied to an estimated $39 billion across 45 states and territories.
Loeffler says the total rises to approximately $49 billion when previously announced cases across the remaining states are included. She also announced the launch of Operation No Doz, which will issue demand letters to suspected pandemic fraudsters and pursue the recovery of funds.
The SBA has previously announced fraud enforcement actions involving pandemic-era Paycheck Protection Program and COVID-19 Economic Injury Disaster Loan activity.
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