The Biden Administration tried to give de facto amnesty to pandemic fraudsters – shielding them from criminal prosecution while sticking taxpayers with the bill.
The Trump SBA is working with DOJ and Treasury to compel repayment and hold pandemic fraudsters accountable under the law.
In 2023, the Biden SBA issued a report identifying $200 billion in fraudulent PPP and COVID EIDL loans. Yet for all four years, they did almost nothing to hold fraudsters accountable.
If it weren’t for the @WHFraudTF, they might still be getting away with it.
SBA is hosting a nationwide pitch competition – with a cash prize pool of $1 MILLION - to highlight entrepreneurs from across the country who are powering American exceptionalism for the next 250 years.
Apply today! https://t.co/U8OCMmdUCP
In coordination with the @VP’s @WHFraudTF, the SBA is cracking down on the estimated $200 billion in pandemic-era fraud that the previous administration tried to sweep under the rug.
⏳Only TWO WEEKS left to apply for the SBA Patriot Pitch Competition and compete for a share of the $1 MILLION prize pool (distributed among five winners) funded by Clover. 🇺🇸
📅 Deadline: June 10
Apply today: https://t.co/pYQzFtULNz
Happy 2⃣5⃣0⃣ birthday, America! 🎂🇺🇸
Join the @SBAgov#PatriotPitch challenge - a $1MM national search for innovative #entrepreneurs who’ve used SBA capital.
✅Win💵to fuel growth📈
✅Connect w/ SBA leadership🗣️
✅Pitch live in DC🏛️
Apply by June 10 👉 https://t.co/rlDATEDOrA
Main Streets are thriving again thanks to President Donald J. Trump! 🇺🇸
- Deregulation
- Fair Trade
- Energy Dominance
- Accountability for Fraud
- No Tax on Tips
- No Tax on Overtime
- 100% Expensing for Made in America Factory Expansion & Equipment
ICYMI: At yesterday’s Cabinet Meeting, @SBA_Kelly briefed the president on SBA’s work to investigate and address fraud, including $200 BILLION in suspected PPP and EIDL abuse.
Achieving more than most administrations do in 8 years. 🇺🇸 12th Cabinet Meeting highlights:
💊Prescription drug prices plummeting
🏠Rents falling
📈Business investment +10.4% in Q1
🌍Strength on world stage
🔍Tens of billions in fraud exposed
RESULTS. With more on the way.🔥
Big news! After the success of our inaugural Supplier Matchmaking Expo in March, SBA is hosting our second expo next week in Detroit – to help large companies connect with small domestic suppliers, empowering them to shift their supply chains home, create local jobs, and restore American industrial dominance.
Registration is open now:
https://t.co/WHoRQCWMfX
.@SBA_Kelly: "At the @SBAgov, we found $200B in fraudulent PPP loans that the Biden Administration tried to hide, and forgive, and sweep under the rug. We've turned the first $22B of that over to Treasury for collections, and to DOJ for prosecution."
Americans are a generous people. That generosity has been taken advantage of to the tune of hundreds of billions of dollars – which is why this Administration is taking a stand.
The Biden Administration knew that over 560,000 SBA borrowers owed the federal government a cumulative $22 billion in delinquent and suspected fraudulent PPP and EIDL loans, and did nothing to recover it.
With the help of @WHFraudTF, the Trump SBA is calling in the debt – to get every dollar back for American taxpayers.
During the Biden Admin, PPP and EIDL became some of THE MOST defrauded federal programs in U.S. history – robbing honest small business owners and taxpayers of vital pandemic relief, to the tune of $200 billion.
Under the leadership of @POTUS, the SBA is delivering long-awaited accountability for every criminal fraudster that the last Administration tried to forgive or sweep under the rug.
With a $1M total prize pool, the SBA Patriot Pitch Competition awards American innovation!
Key details:
✅ Judging categories: strengthening American competitiveness, small business “punching above its weight,” economic impact, and business fundamentals and execution readiness
✅ Deadline: Submit your pitch by June 10
✅ The finals: September 2026 in D.C.
Learn more and submit your pitch: https://t.co/LDJ4qZSVAR
THE most underreported story in the MSM: Main Street is back.
In the last two months alone, @POTUS’s tax cuts, fair trade, and deregulation agenda has generated 300,000 private sector jobs – and around 1M new business formations.
ICYMI: SBA is teaming up with @HUDgov to give builders the capital to supercharge residential home construction – and make the American Dream of home ownership more affordable than ever before. 👇
Today, we remember and honor those who made the ultimate sacrifice in service to our nation. Their courage, dedication, and selflessness will never be forgotten.
#MemorialDay