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SBA administrator defends loan reforms, cites $630 million identified by 'Doge' team; members press on inspector general removal and data access
Summary
Administrator Kelly Loeffler told the House Small Business Committee the agency has tightened underwriting and identification checks and credited a data team with identifying roughly $630 million in fraudulent loans.
Administrator Kelly Loeffler outlined changes to SBA lending and oversight she said were intended to reduce fraud and restore program integrity. She told the House Small Business Committee the agency reinstated lender fees, tightened underwriting standards, and implemented identity and citizenship verification steps to ensure loan eligibility.
On fraud detection Loeffler credited an internal data team—referred to repeatedly in the hearing as the “Doge” team—with identifying $630,000,000 in fraudulent loans and locating loans approved for ineligible recipients. In response to direct questions about the provenance of the fraud figures, Loeffler said the team was composed of…
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