Corruption

DOGE Uncovers Over $300 Million in SBA Loans to Children and Centenarians

Published

March 10, 2025

The Department of Government Efficiency (DOGE) announced another round of contract terminations late Saturday, revealing widespread fraudulent loans issued through the Small Business Administration (SBA). The latest findings indicate that nearly $312 million in loans were granted to children, while another $333 million was disbursed to borrowers over 115 years old.

The revelations, first reported by Fox News, highlight the alarming lack of oversight in government lending programs, particularly during times of crisis. DOGE found that the SBA approved approximately 5,600 loans between 2020 and 2021 for businesses whose sole listed owner was 11 years old or younger at the time of application.

DOGE reported that while some legal business arrangements involving minors exist, the likelihood of legitimate operations for these 5,593 loans is extremely low. Each case also involved Social Security numbers with incorrect names. The agency is now working with the SBA to address the problem and prevent similar issues in the future.

Adding to these concerns, DOGE disclosed that the SBA issued 3,095 loans—totaling $333 million—to individuals listed as being over 115 years old. In one extreme case, a 157-year-old borrower reportedly received $36,000 in government loans. These funds were distributed under the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs during the COVID-19 pandemic.

Calls for Greater Accountability

President Donald Trump referenced similar irregularities in a speech to Congress on Tuesday. He highlighted widespread fraudulent Social Security records, pointing out that millions of individuals over 100 years old remain listed in government databases. Some records show individuals as old as 360 years.

“I know some people who are rather elderly but not quite that elderly,” Trump quipped, emphasizing the administration’s active investigation into these fraudulent claims.

Beyond fraudulent loans, DOGE canceled a Department of Agriculture contract worth $10.3 million. The contract, ironically designated for “identifying unnecessary contracts,” was one of 162 federal contracts terminated by DOGE. The total ceiling value of these contracts reached $205 million, with projected taxpayer savings of $90 million. DOGE did not specify which areas of the government were affected by the remaining terminations.

Meanwhile, Musk met with a group of House Republicans on Wednesday to discuss eliminating up to $1 trillion in government waste. Lawmakers familiar with the meeting described DOGE’s leadership as optimistic yet aware of the scale of the challenge.

“The executive DOGE team is confident—they think they can get $1 trillion,” one lawmaker told Fox News Digital. “Now, we’ll see, right? And the thing is, he acknowledged that we’re going to make mistakes, but we’re going to correct them very quickly.”

With Musk and DOGE leading the charge, the agency’s findings underscore the urgent need for stronger oversight and accountability in federal lending programs. The scale of these fraudulent loans suggests systemic weaknesses that, without intervention, could lead to further misuse of taxpayer dollars. Stricter controls are essential to prevent abuse and ensure funds reach legitimate recipients.