Idle on EIDL Fraud: How the Trump Administration Wasted Taxpayer Dollars by Leaving the COVID-19 EIDL Program Vulnerable to Fraud
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Serial Number
Levin Center Identifier
Document Date
2022-06-14
Report Length
39 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Report Type
Found Using Methodology
Yes
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Subcommittee(s)
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Brief Executive Summary
The Select Subcommittee on the Coronavirus Crisis of the House Committee on Oversight and Reform investigated the Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) program during the COVID-19 pandemic. Despite providing relief to eligible small businesses, $86 billion in EIDL funds reportedly went to applicants with fraud alerts. The investigation reveals that the Trump Administration, specifically the SBA, failed to implement basic safeguards to prevent fraud, directing loan reviewers to approve applications with serious fraud alerts without verification.