The Small Business Administration (SBA) has initiated the process of referring delinquent Covid disaster loans, with balances of $100,000 or less, totaling up to $20 billion, to the Treasury Department for collection. This move targets loans provided to small businesses and nonprofits during the Covid pandemic. The action has been described by some as a consequence of a too generous program that attracted scammers.
The SBA is trying to get more small businesses to use its loan programs. https://t.co/bwZoKUtzMW
The Small Business Administration has begun referring as much as $20 billion in delinquent Covid disaster loans with balances of $100,000 or less to the Treasury Department for collection https://t.co/KcZw5GLHRg https://t.co/KcZw5GLHRg
The SBA has begun referring as much as $20 billion in delinquent Covid disaster loans with balances of $100,000 or less to the Treasury Department for collection https://t.co/R8aJGOz4XY What a boondoggle. Another example of a too generous program that attracted scammers.
US seeks collection on up to $20B in delinquent COVID loans to small businesses, nonprofits https://t.co/kGVDIPxBHz https://t.co/quLf5nUDHu
The SBA has begun referring as much as $20 billion in delinquent Covid disaster loans with balances of $100,000 or less to the Treasury Department for collection https://t.co/UbobsG09Vb