Tesla CEO Elon Musk says ‘No more loans to…’ as DOGE announces new measures to prevent fraudulent applications using stolen Social Security numbers

Tesla CEO Elon Musk has voiced support for the Small Business Administration’s (SBA) new policy aimed at preventing fraud involving stolen Social Security numbers. In a post on X, Musk commented, “No more loans to babies or people too old to be alive (i.e. stolen Social Security numbers),” in response to a Department of Government Efficiency (DOGE) announcement.

The revised SBA policy now requires applicants to provide their date of birth for all direct loan applications to combat fraudulent claims. It also temporarily halts loan processing for individuals under 18 or over 120 years old, following past cases flagged by DOGE, including a 157-year-old receiving a $36,000 loan. The measures follow reports of $333 million in loans issued to individuals over 115 years old during 2020-2021.