Peggy E. (Peg) Gustafson was sworn in as the Inspector General of the U.S. Small Business Administration on October 2, 2009. Ms. Gustafson previously served as General Counsel to Senator Claire...
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Audit Report 6-29: Audit of Loan Disbursements Following the 2005 Gulf Coast Hurricanes Katrina, Rita, and Wilma
On September 19, 2006, the OIG issued Audit Report 6-29, Audit of Loan Disbursements Following the 2005 Gulf Coast Hurricanes Katrina, Rita, and Wilma. The objectives of this audit were to determine the reason for the low rate of disaster loan disbursements, and to identify impediments in the loan closing and sibursement processes that affected the SBA's ability to provide timely assistance to disaster victims. The OIG found that the majority of approved loans had not been closed, and that the rate of loan disbursements was mostly borrower driven. The OIG made no recommendations.