Signal13fa27ce

WEBINDEXED

SBA OIG audit found $10 billion in PPP loan fraud enabled by no-bid processing contracts to Kabbage Inc., where oversight failures allowed 25% fraudulent claims, costing taxpayers $2.5 billion.

Author:sba.gov/oig

Published:2023-07-22 00:00 UTC

Occurred:2020-04-01 00:00 UTC

Received:2026-02-27 06:01 UTC

Status Score

94%

ITG

100%

IMP

95%

NAR

85%

Analysis Insights

Topics Detected

#Fraud#No-bid contracts#Oversight failure

Entities Mentioned

@SBA-OIG@Kabbage Inc.@PPP loans

Technical Details

Analyst Mission

Government Oversightfbf0b924...

Source IDN/A

Original URLhttps://www.sba.gov/oig

Database ID13fa27ce-6d9e-481e-949f-5dcf8eda0aab

Raw Data

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  "id": "13fa27ce-6d9e-481e-949f-5dcf8eda0aab",
  "content": "SBA OIG audit found $10 billion in PPP loan fraud enabled by no-bid processing contracts to Kabbage Inc., where oversight failures allowed 25% fraudulent claims, costing taxpayers $2.5 billion.",
  "url": "https://www.sba.gov/oig",
  "source_type": "web",
  "source_id": null,
  "author_id": "sba.gov/oig",
  "published_at": "2023-07-22T00:00:00.000Z",
  "received_at": "2026-02-27T06:01:12.343Z",
  "status": "indexed",
  "relevance_score": 94,
  "case_id": null,
  "metadata": {
    "topics": [
      "Fraud",
      "No-bid contracts",
      "Oversight failure"
    ],
    "mission": "Government Oversight",
    "mentions": [
      "SBA-OIG",
      "Kabbage Inc.",
      "PPP loans"
    ],
    "mission_id": "fbf0b924-8575-4c7a-9247-b6813ac0c701"
  },
  "credibility_score": 100,
  "actionability_score": 95,
  "emotional_score": 85,
  "occurred_at": "2020-04-01T00:00:00.000Z",
  "case_ids": null
}