A major government investigation has revealed that over 5,500 loans totaling $312 million were granted to borrowers under the age of 12 during the COVID pandemic, marking another massive failure of oversight in federal programs.
The Department of Government Efficiency (DOGE), led by Elon Musk, identified nearly 5,600 loans issued by the Small Business Administration (SBA) to children in 2020 and 2021. Records show that all of these loans used Social Security numbers that did not match the names of the applicants, making it highly unlikely that they were obtained legally.
This discovery comes just days after DOGE also revealed that the SBA approved another $333 million in loans for borrowers listed as being over 115 years old. One individual recorded as 157 years old received $36,000 in federal aid.
President Donald Trump, in a speech before Congress, condemned the fraud and mismanagement, revealing that government databases include millions of centenarians, some listed as being over 360 years old. Trump vowed to put an end to such reckless waste, calling the sheer scale of these errors unacceptable.
In addition to fraudulent loans, DOGE has been terminating wasteful government contracts. The agency recently canceled a $10.3 million Department of Agriculture deal meant to identify wasteful spending — ironically, one of 162 nonessential contracts that had been allowed to continue under previous administrations.
Musk, who met with House Republicans last week, has made it clear that DOGE’s mission is far from over. Lawmakers familiar with the discussions reported that Musk and his team are aiming to uncover at least $1 trillion in government waste. With mounting evidence of fraud, his efforts are already exposing significant financial mismanagement at the highest levels of government.
