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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39 pages
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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.
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