The Department of Government Efficiency (DOGE) said over the weekend that it found that the Small Business Administration (SBA) allegedly 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 n 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 an SSN with the incorrect name,” the post added, referring to a Social Security number.
It said that DOGE and the SBA are now working to investigate the matter. The Epoch Times contacted the SBA for comment Sunday.
At around the same time on Saturday, DOGE wrote in a post that it found that the SBA issued 3,095 loans for $333 million to borrowers whose age was listed at over 115 years old. Those borrowers, it said, were listed as alive in the Social Security database, and in one instance, a 157-year-old individual received loans worth $36,000, including Paycheck Protection Program and Economic Injury Disaster Loan loans.
Also Saturday, DOGE said a U.S. Department of Agriculture contract worth $10.3 million that was started for “identifying unnecessary contracts” had been canceled, noting that it was one of 162 nonessential contracts that had been terminated.