111,620 California borrowers suspected of committing $8.6 billion of pandemic-era fraud have been suspended by the U.S. Small Business Administration, SBA Administrator Kelly Loeffler announced Friday.
“I’m here in San Diego, standing at an address that is registered to 14 businesses that took $2 million in pandemic-era loans Those loans haven’t been paid back,” Administrator Loeffler says in a social media video reporting the suspensions.
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