DOGE PPP Payback Threatens To Break Kansas City Small Biz

Local insiders share a trend that's hitting Kansas City small biz right into the pocketbook but it's not on the local news radar just yet.

NEW DOGE EFFORTS TO "ENCOURAGE" PPP LOAN PAYBACK NOW CONFRONT KANSAS CITY SMALL BIZ!!!

A few local biz people are making some very significant noise about this trend and that we're going to hear more about VERY SOON . . . 

In the meantime . . . 

Whilst recent DOGE moves have impacted federal workers, farmers and the working poor. Now small biz people might soon join the litany of locals facing U.S. cost saving measures.

To be fair, there's some support at loan collection . . . Especially in cases of fraud . . . However, the current state of the economy will make paying up even harder . . . Especially when quite a few locals assumed the cash was akin to "free money" from former Prez Biden. 

Here are the basics and links to more info . . . 

"Musk, who famously brandished a chainsaw to illustrate his desire for cuts, has also helped spearhead agency terminations of thousands of probationary workers, as well as offered early outs for federal workers. He's also made big claims about savings and waste before having to walk some of those statements back.

"But his focus on the outcomes of the SBA's pandemic-era relief programs — which rolled out about $1.2 trillion between Paycheck Protection Program forgivable loans, Economic Injury Disaster Loans and other grants during the Covid-fueled chaos of 2020 and 2021 — remains a key part of the programs' legacy five years after Covid-19 was officially declared a pandemic. The rush to provide funds to small businesses, and avoid a cataclysmic economic collapse, resulted in programs with flaws prone to fraud, although there is no consensus on how much. Some have estimated Covid-lending fraud to total about $200 billion."

Read more via www.TonysKansasCity.com links . . .

Pandemic-era SBA programs spark debate five years later - The Business Journals

The SBA allocated more than $1 trillion through multiple programs to small businesses at the onset of the pandemic. The aftermath of that effort is still playing out. Here's what it means for businesses that participated in the programs - and the future of the SBA.

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Illinois Attorney General Kwame Raoul announced Thursday he's filed charges against a woman for fraudulently receiving tens of thousands of dollars from PPP loans while working for the postal service.

Former 'Squad' Rep. Cori Bush's husband indicted for allegedly pocketing $20K in PPP loans for 'personal benefit and enjoyment'

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Elon Musk Backs Crackdown On SBA Loans After $333 Million Went To Borrowers Over 115 Years Old

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk endorsed new loan verification measures implemented by the Small Business Administration, highlighting concerns about fraudulent applications using stolen Social Security numbers. What Happened: "No more loans to babies or people too old to be alive," Musk wrote Monday on X, responding to an announcement from the Department of Government Efficiency (DOGE), which he leads under President Donald Trump's administration.

Developing . . .