SBAExpress Pilot Program Inspection Report
- Title:
- SBAExpress Pilot Program Inspection Report
- AgencyName:
- Small Business Administration
- MajorOrganizationalSubdivision:
- Office of the Inspector General
- MinorOrganizationalSubdivision:
- None Selected
- Unit:
- Inspection and Evaluation Division
- Abstract:
- The Office of Inspector General (OIG) issued an inspection
report on the SBAExpress Pilot Program. It focuses on
whether the loan underwriting practices are consistent with
the program's objectives and provides data as to how lenders
are using the program. While overall the SBAExpress program
appears to be meeting its objectives and is considered by
lenders to be highly effective in increasing the capital
available to small businesses, the OIG found that language
governing certain SBAExpress rules, regulations and standard
operating procedures leaves room for broad interpretation.
The OIG recommends that the Associate Administrator for
Financial Assistance clarify the rules and regulations
pertaining to the use of credit scoring and promissory
notes in SBAExpress loans.
- Purpose:
- The inspection originated with an inquiry sent to the OIG by
an SBA district counsel who suggested that the OIG review
the loan underwriting practices of a bank following the
request for SBA purchase of three of eleven of its
SBAExpress loans. Additionally, the inspection addresses
the concerns of Senators Patrick Leahy and James Jeffords who, in a December 1997 letter to SBA's Administrator,
requested that SBA "...review the underwriting practices of
SBAExpress lenders."
- AgencyProgram:
- N/A
- DistributorName:
- Office of Inspector General
- DistributorOrganization:
- Small Business Administration
- DistributorStreetAddresss:
- 409 3rd Street, S.W.
- DistributorCity:
- Washington
- DistributorState:
- DC
- DistributorZip:
- 20416-4112
- DistributorCountry:
- USA
- DistributorHoursOfService:
- 8:30 a.m. - 5:00 p.m.
- DistributorTelephone:
- (202) 205-7187
- DistributorFax:
- (202) 205-6922
- DistributorResourceDescription:
- 98-06-01
- DistributorOrderProcess:
- This report can be obtained by contacting the Inspection and
Evaluation Division at (202) 205-7202 or by writing to:
Office of Inspector General, Inspection and Evaluation
Division, 409 3rd Street, S.W., Mail Code 4115, Washington,
D.C. 20416-4112.
- SourcesOfData:
- N/A
- AccessConstraints:
- None
- UseConstraints:
- None
- ContactName:
- Office of Inspector General
- ContactOrganization:
- Small Business Administration
- ContactStreetAddress:
- 409 3rd Street, S.W.
- ContactCity:
- Washington
- ContactState:
- DC
- ContactZipCode:
- 20416-4112
- ContactCountry:
- USA
- ContactHoursOfService:
- 8:30 a.m. - 5:00 p.m.
- ContactTelephone:
- (202) 205-7178
- ContactFax:
- (202) 205-6922
- ScheduleNumber:
- N/A
- ControlIdentifier:
- SBA10980
- RecordSourceAgencyName:
- Small Business Administration
- RecordSourceUnit:
- Office of Administrative Services
- DateOfLastModification:
- 19980714