There’s nothing unlawful or untwart about an 11yr old getting a business loan if they have a business, that’s just a motivated kid. If not investigate and then shut it down if it’s fraud, don’t just read the title and cut it based off that.
You clearly don’t know the basics of how an SBA loan works so I’m not sure why you are even making statements as if you’re an expert.
Also, I’m not giving an opinion on the legality of the situation. I’m stating the Twitter post is based on no provided evidence so everyone in this thread defending against another ridiculous statement with more ridiculous statements shows that both sides are equally willfully ignorant and susceptible to propaganda.
I’m on the side that thinks it’s likely a record keeping error because the names do not match the SSNs. Also, banks are the actual lenders behind SBAs and it’s highly unlikely that in one specific year, banks decided to loan out over $300m to over thousands of businesses with credit checks that did not match the name returned on an SSN with the name of the person being lent too.
There’s nothing unlawful or untwart about an 11yr old getting a business loan if they have a business, that’s just a motivated kid. If not investigate and then shut it down if it’s fraud, don’t just read the title and cut it based off that.
You clearly don’t know the basics of how an SBA loan works so I’m not sure why you are even making statements as if you’re an expert.
Also, I’m not giving an opinion on the legality of the situation. I’m stating the Twitter post is based on no provided evidence so everyone in this thread defending against another ridiculous statement with more ridiculous statements shows that both sides are equally willfully ignorant and susceptible to propaganda.
I’m on the side that thinks it’s likely a record keeping error because the names do not match the SSNs. Also, banks are the actual lenders behind SBAs and it’s highly unlikely that in one specific year, banks decided to loan out over $300m to over thousands of businesses with credit checks that did not match the name returned on an SSN with the name of the person being lent too.
That’s not a counterargument that’s a bad attempt to strawman. Similarly there are zero age restrictions on an SBA loan, none zero.
There’s no need to defend against either, they’re both legal.
Probably, that doesn’t change the fact that it wouldn’t be illegal even if the ages are correct.