Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Loans offered by the Small Business Administration (SBA) are now subject to new rules following Department of Government Efficiency (DOGE) work at the federal agency.
Why It Matters
The SBA guarantees loans for small businesses across the country, helping companies get funding by setting guidelines for loans and reducing lender risk.
According to the SBA, as of 2023, there are 33.3 million small businesses throughout the country, employing more than 61.6 million people.
What To Know
In a post on X, formerly Twitter, DOGE announced two changes: loans administered by the SBA would now require a date of birth of the applicant; and direct loans are no longer available for those under 18 and over 120 years old.
In a separate post, DOGE said that, between 2020 and 2021,
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