WASHINGTON D.C (VINnews)-Elon Musk reported at today’s cabinet meeting that children under the age of 11 have collectively taken out Small Business Administration (SBA) loans amounting to a staggering $330 million. The tech billionaire and CEO of Tesla and SpaceX made the statement during a recent discussion, raising eyebrows about the credibility and oversight of the SBA loan program. Musk’s comments have sparked curiosity and skepticism, as such loans are typically intended for small business owners, not minors.
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Musk went further, claiming that the youngest borrower was a mere nine-month-old infant who reportedly secured a $100,000 loan. “That’s a very precocious baby we’re talking about here,” Musk quipped, injecting his characteristic humor into the astonishing assertion. While no concrete evidence has been provided to substantiate these claims, the statement has fueled speculation
potential loopholes or fraudulent activity within the SBA’s lending system.
The implications of Musk’s remarks, could point to significant issues in how loans are vetted and distributed. Critics might argue it highlights a lack of stringent verification processes, while others may see it as an exaggerated anecdote meant to provoke discussion. As of now, neither the SBA nor federal authorities have responded to Musk’s statements.
He has offered no proof and this has already largely been debunked. He doesn’t know how to read the records – these weren’t Small Business Association (SBA) loans, they were Survivor Benefits Assistance (SBA).
I wish my kids did. Tuition is very expensive!
Nothing wrong here
My eineklach are very smart
No one will dispute that fact
Tichtigeh kids!!!
dear mr musk, recovering stolen goods is a good thing, especially when it’s millions of taxpayer dollars that should be used for better things. i have no reason to believe or disbelieve what you say, so “show us the money”!
last time check you had to 18 to get a loan so it’s a binding and legal contract.
Wasn’t Trump president when these ridiculous covid programs come out? I feel like trump’s covid programs invited fraud.
Such young entrepreneurial minds! Surely one of them is the next Elon Musk.
Just like Obama gave his fellow blacks who were unemployed all the loans in the world to “purchase” their first home.