The Trump administration’s Small Business Administration announced Thursday that it has suspended 6,900 Minnesota borrowers after uncovering a widespread suspected fraud tied to COVID-19 relief programs.
According to the agency, an internal review of Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) approvals in Minnesota revealed nearly $400 million in potentially fraudulent loans—money that was supposed to keep small businesses afloat and American workers employed during the pandemic.
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