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SBA - 25-03 - 1

Open · 2024-11-05

From report

Report
Approved Disaster Assistance Loans Matching COVID‐19 EIDLs and PPP Loans with Fraud Hold Codes
OIG report number
25-03
Recommendation number
1

Recommendation text

Review the 187 loans that matched to a related COVID-19 EIDL or PPP loan with a fraud hold code for legitimacy and eligibility. If any of the 187 loans are found to be illegitimate, ineligible, or fraudulent, take appropriate action to 1) prevent disbursement of funds, 2) recover the funds, and 3) refer potentially fraudulent loans to OIG.