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Kelly Loeffler: “Biden put additional tariffs on China even after President…”

Featuring: Kelly Loeffler, Republican | Administrator, U.S. Small Business Administration | National

$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler

Published January 9, 2026 | Video Starts at 23:36

Even during the Biden administration, there's thinking about this, but it really hasn't happened much from what I can tell. Right. Yeah. People forget Biden put additional tariffs on China even after President Trump did. So the Biden administration doubled down on that. Right. But no, it is, it's an issue that the administration now is actively working on. We're working with them on it on a number of fronts. (23:36–23:42)

CLAIM

Asserts that Biden administration imposed additional tariffs on China after Trump.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Kelly Loeffler

“$1.2 trillion in federal funds went out through the SBA. That was in the form of the Paycheck Protection Program and the Economic Injury…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 03:06-03:17
“Small businesses, which make up 99% of all businesses in this country that employ nearly half our workforce, there's 36 million of them now.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 03:29-03:38
“When I served in the Senate, I was the only chartered financial analyst to ever serve in Congress.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 09:22-09:27
“The president has brought in hundreds of billions of dollars in tariffs, trillions in commitments to build in this country.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 17:40-17:48
“Thousands of factories, maybe 50,000, 70,000 factories were scraped from America and millions of jobs were lost.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 17:55-18:04
“We worked through the holidays from Thanksgiving up to New year's on about 20,000 different files, found about 8,000 instances of fraudulent…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 00:03-00:15
“During the Biden administration, they had never cracked down on fraud.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 01:29-01:34
“We are now, because of this blueprint we have, we're going to be able to go state by state and see where people have defrauded the federal…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 02:15-02:25
“Under the Biden administration, they quickly started forgiving fraudulent actors, loans that were already fraught, fraud flagged.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 04:06-04:16
“The SBA was dormant under President Biden. 90% of the employees worked from home for four years.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 05:35-05:43
“We have about 5,000 [banks] signed up within our agency.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 06:11-06:15
“Normally we have a low default rate, maybe less than 2% on a good day.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 06:40-06:46
“I was part of taking not one company public, but two.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 09:07-09:11
“I also started a company that is now a public company in the crypto space.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 09:17-09:22
“Thanks to President Trump's leadership and, sadly, his own personal experience and that of his family, we understand that debanking is a…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 12:59-13:10
“We now have the executive order that the SBA was charged with being part of the regulatory group, the occ, the FDIC and the Fed to…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 13:11-13:23
“We led the charge in sending out 5,000 letters.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 13:22-13:27
“Under Obama, it really started with operation choke point 1.0, where they started defunding, debanking, disfavored people.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 13:39-13:50
“They even went as far under the Biden administration to put it into the regulatory apparatus so that you'd be penalized as a regulated…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 13:50-14:00
“We sent out letters, got a very good response. Continue to go through those responses in collaboration with the regulatory agencies.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 14:33-14:42
“To use the banking system to be a choke point for disfavored political people is objectly wrong. And the President is reversing that.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 15:53-16:04
“The DOJ will be probably part of the broader response once we have all the responses.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 16:19-16:25
“The working families tax cut was so important because you have 100% expensing of made in America factories.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 19:30-19:36
“I've had many factory workers tell me that they're going to work more hours because their overtime is not going to be taxed away now.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 19:44-19:52
“In my first month, I announced our Made in America manufacturing tour and all the programs that go with it.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 20:44-20:51
“We've thrown our support behind Made in America Manufacturing act, which raises our loan limits to $10 million from $5 million.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 21:28-21:36
“When I was in the Senate, I introduced the Beat China act, which was to bring manufacturing back onshore.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 22:32-22:39
“The SBA has been tasked with leading a strike force, a deregulatory strike force.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 22:55-23:02
“Federal contracting and the fraud that happens within it in Washington D.C. around these programs are probably the worst kept secret in…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 24:39-24:48
“There's been some very high profile DOJ actions last year that highlighted the wrongs of the eight program.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 25:01-25:11
“The federal government's a trillion dollar spender. So this is every year.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 25:29-25:36
“We have an investigation, a 15 year look back audit going on.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 25:42-25:47
“Socially and economically disadvantaged contracts are awarded right now to about 4,300 firms.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 26:17-26:25
“If they don't respond to the letters with the requested financial information...we are going to remove them from the program.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 26:36-26:51
“2026 is going to be a year for the record books. I mean, it's not just our 250th anniversary as the world's exceptional country, but it's…”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 28:12-28:29
“We're all working together like never before for the best president in American history.”
$400 Million in Loans Being Investigated for Fraud | SBA Chief Kelly Loeffler | Uploaded January 9, 2026 | 28:31-28:37