In 2020-2021, SBA granted 5,593 loans for $312M to borrowers whose only listed owner was 11 years old or younger at the time of the loan. While it is possible to have business arrangements where this is legal, that is highly unlikely for these 5,593 loans, as they all also used

In a surprising revelation, the Small Business Administration (SBA) has come under scrutiny for approving over 5,500 loans totaling $312 million during the 2020-2021 period to borrowers with owners as young as 11 years old. This unusual lending practice raises questions about the legitimacy and oversight of these loans, especially given that it is highly improbable for such young individuals to be the sole owners of legitimate business ventures. The loans were primarily issued under programs designed to support small businesses during the COVID-19 pandemic, which aimed to provide financial relief to struggling enterprises. However, the SBA’s decision to grant these loans to minors has sparked concerns about potential fraud and misuse of funds, prompting calls for a thorough investigation into the lending process. As authorities delve deeper into the matter, the implications could impact future SBA lending practices and regulations aimed at safeguarding taxpayer dollars.

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