At President Trump's Cabinet meeting on Monday, Small Business Administration Administrator Kelly Loeffler reaffirmed her commitment to look into fraud within SBA programs.
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NewsTranscript
00:00The clear case of fraud was with the Small Business Administration where they were handing
00:04out loans, $330 million worth of loans to people under the age of 11.
00:10I think the youngest, Kelly, was a 9-month-year-old who got a $100,000 loan.
00:15That's a very precocious baby we're talking about here.
00:18We're tackling the fraud, waste, and abuse of the agency.
00:24We've seen, you know, hundreds of billions of dollars of fraud go unprosecuted, so we're
00:29taking that on.
00:30We have a zero-tolerance policy for fraud, and we continue to crack down on it and make
00:35sure people are held accountable.
00:38And you have a lot of that, you've found far too much of it.
00:44It's a pure fraud.
00:45We like to use the words waste and abuse because they make, they sort of sound good, but many
00:50of these things are pure fraud.