SBA Approved $333m in Federal Loans for 110+ Year Olds, Including a 157-Year-Old, DOGE Reports

The Small Business Administration (SBA) approved 3,095 loans, totaling $333 million, for borrowers listed as 115 years or older in the Social Security database between 2020 and 2021, according to a post on Elon Musk’s D.O.G.E’s official X account on Sunday.

One of them, officially 157 years old, received $36,000. The Department of Government Efficiency (D.O.G.E) called the records part of a massive federal scam.

In the same period, the SBA granted 5,593 loans, worth $312 million, to businesses owned by children aged 11 or younger. While some legal business arrangements could make this possible, all 5,593 cases had one thing in common—each loan application used a Social Security number (SSN) that did not match the name on file.

The Social Security Administration (SSA) is reinstating full benefit cuts for seniors who were previously overpaid, reversing a Biden-era policy that reduced clawbacks to 10% of their monthly checks. The agency aims to recover $7 billion over the next decade.

“We have the significant responsibility to be good stewards of the trust funds for the American people,” said Leland Dudek, SSA’s acting commissioner. “It is our duty to revise the overpayment repayment policy back to full withholding.”

Under Biden’s administration, the SSA limited overpayment recovery to 10% of a person’s Social Security check to prevent seniors from losing their entire income at once. The new policy, set to start March 27, means recipients who received excess payments—often due to SSA errors—could see their monthly benefits reduced to zero.

Former Social Security Commissioner Martin O’Malley warned that cutting SSA staff increases the risk of these errors and makes it harder to fix them. “This return to the 100% interruption and clawback of a beneficiary’s monthly payments will inflict dire financial hardship on greater numbers of innocent seniors who depend entirely on their monthly Social Security benefit to survive,” he said.

The SSA recovered $4.9 billion in overpayments last year, with another $10.3 billion scheduled for repayment. While the commissioner can waive repayment if the beneficiary wasn’t at fault and collecting would be “against equity and good conscience,” the total waivers issued in 2023 amounted to just $302 million. The Supplemental Security Income (SSI) program, which supports disabled individuals, will keep the 10% recovery rate, while all other beneficiaries will face the return of full clawbacks.

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