Today 8:34 am
The Department of Government Efficiency (DOGE) announced a further wave of contract terminations late Saturday, noting that they also identified thousands of cases where more than $300 million in loans were granted to children.
The announcements come as the Elon Musk-led agency continues to root out waste, fraud and corruption in the federal government.
DOGE said it identified that the Small Business Administration (SBA) granted nearly 5,600 loans for $312 million to borrowers whose only listed owner was 11 years old or younger at the time of the loan. The loans were issued in 2020 and 2021 – while the world struggled with the COVID-19 pandemic – and it is unclear what they were used for.
The announcements come as the Elon Musk-led agency continues to root out waste, fraud and corruption in the federal government.
DOGE said it identified that the Small Business Administration (SBA) granted nearly 5,600 loans for $312 million to borrowers whose only listed owner was 11 years old or younger at the time of the loan. The loans were issued in 2020 and 2021 – while the world struggled with the COVID-19 pandemic – and it is unclear what they were used for.