Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reason
Reason
Eric Boehm

Millions of PPP Loans Were Flagged as Potentially Fraudulent. Many Were Never Investigated.

If the protesters who clashed with police and smashed their way through the U.S. Capitol on January 6, 2021, truly wanted to "stop the steal," perhaps their ire should have been directed a few blocks south.

While the chaos was unfolding at the Capitol, bureaucrats at the Small Business Administration (SBA)—three blocks away—were also apparently quite busy. According to a new report, some 1.8 million "flags" applied to loans issued as part of the Paycheck Protection Program (PPP) that indicated the loans might be fraudulent or otherwise incorrectly awarded were mass deleted from files on January 6.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.