Vice President JD Vance will reportedly announce Monday that the Trump administration’s Small Business Administration has suspended nearly 870,000 U.S. borrowers connected to an estimated $39 billion in suspected fraudulent activity from the Paycheck Protection Program and Economic Injury Disaster Loan.
Vance is expected to make the announcement in an official visit to Kansas City, Missouri, according to Politico.
He will reportedly announce the suspensions alongside Attorney General Todd Blanche, FBI Director Kash Patel and SBA Administrator Kelly Loeffler. The suspensions follow the SBA’s state-by-state pandemic-fraud crackdown.
The suspended borrowers are in 45 new states, six territories and the District of Columbia. They will be prohibited from future small-business and disaster loans and other SBA programs.
The SBA IG’s office will also announce the start of “Operation No Doze,” in which suspected fraudulent PPP and Covid EIDL borrowers in Kansas and Missouri will receive a final 30-day demand letter, Politico also reports.
