In 2020-2021,
@SBAgov
issued 3,095 loans, including PPP (Paycheck Protection Program) and EIDL (Economic Injury Disaster Loan), for $333M to borrowers over 115 years old who were still marked as alive in the Social Security database.

In one case, a 157 years old individual

In a startling revelation, the Small Business Administration (SBA) issued over 3,000 loans totaling $333 million during the pandemic to borrowers aged 115 and older, some of whom were surprisingly still listed as alive in the Social Security database. Among these extraordinary cases, a 157-year-old individual was noted, raising eyebrows and prompting scrutiny regarding the integrity of the loan approval process.

The loans were part of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) initiatives designed to support businesses during the economic downturn caused by COVID-19. As the SBA strives to provide relief, this bizarre anomaly highlights potential flaws in the verification systems used to confirm borrower eligibility. Experts have called for more rigorous checks to prevent fraud and ensure that vital funds are directed to those who genuinely need them.

This situation serves as a reminder of the importance of accuracy in government databases and the need for oversight in financial assistance programs, especially during unprecedented times of crisis. As investigations unfold, the SBA faces pressure to address these issues and restore public trust in its lending practices.

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