US_ DOGE Says It Found $312 Million in Loans That Were Given to Children During Pandemic

THE EPOCH TIMES

DOGE Says It Found $312 Million in Loans That Were Given to Children During Pandemic

About 5,600 loans worth $312 million went ’to borrowers whose only listed owner was 11 years old or younger at the time of the loan,' DOGE said.

Elon Musk in the Oval Office of the White House on Feb. 11, 2025. Andrew Harnik/Getty Images

By Jack Phillips
3/9/2025 Updated: 3/9/2025


The Department of Government Efficiency (DOGE) said over the weekend that it found that the Small Business Administration (SBA) granted thousands of loans worth hundreds of millions of dollars to individuals who had an age listed as 11 years old or younger.

In a post on social media platform X on March 8 that was reposted by Elon Musk, who leads the department, DOGE wrote that in the COVID-19 pandemic years of 2020 and 2021, the SBA granted 5,593 loans worth $312 million “to borrowers whose only listed owner was 11 years old or younger at the time of the loan.”

“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 [a Social Security number] with the incorrect name,” the post reads.

DOGE and the SBA are now working to investigate the matter, according to the post. The Epoch Times contacted the SBA for comment on March 9 but did not receive a response by publication time.

Also on March 8, DOGE wrote in a separate post that it found that the SBA issued 3,095 loans for $333 million to borrowers whose age was listed at more than 115 years old. Those borrowers, it stated, were listed as alive in the Social Security database, and in one instance, a person recorded as being 157 years old received loans worth $36,000, including under the Paycheck Protection Program and as an Economic Injury Disaster Loan.

Also on March 8, DOGE stated that a Department of Agriculture contract worth $10.3 million that was for “identifying unnecessary contracts” had been canceled, noting that it was one of 162 nonessential contracts that had been terminated.

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READ MORE: https://www.theepochtimes.com/us/doge-says-it-found-312-million-in-loans-that-were-given-to-children-during-pandemic-5822546?ea_src=frontpage&ea_cnt=a&ea_med=top-news-8--top-news-0-top-stories-0-title-0

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