Ernst: Biden's SBA Must Recover Fraud, Not Loosen Lending Standards

Press Release

"I'm disgusted $200 billion of our taxpayer dollars, set aside to support small businesses, were funneled to thieves, organized criminals, and transnational gangs under the Small Business Administration's watch. While I've repeatedly urged SBA to focus on accountability and recoveries, it has doubled down on its inaction and is now refusing to pursue debt collections as required by statute, forgiving as many loans as possible, and rewriting the rules of its core lending programs to make them less secure. The IG's report is further proof the SBA must wake up and focus on fixing its mistakes rather than making new ones."

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