Musk-Led DOGE Uncovers $330 Million in SBA Loans Issued to Children

New rules mandate date of birth verification following revelations of loans granted to minors, including a nine-month-old baby.

The Department of Government Efficiency (DOGE), led by Elon Musk, identified $330 million in fraudulent SBA loans issued to children under 11 years old.
The youngest recipient of these loans was a nine-month-old who received $100,000, highlighting significant oversight failures in the SBA's loan processes.
In response, the SBA has implemented stricter rules requiring date of birth verification for all loan applicants and pausing loans for individuals under 18 or over 120 years old.
DOGE claims to have terminated 6,637 federal contracts, resulting in $20 billion in cost savings, though critics question the accuracy of these figures.
The Trump administration continues to support DOGE's aggressive reforms, despite ongoing legal challenges and concerns over the impact on essential government services.