SBA Comments on Loans to Poultry Farmers

SBA Inspector General Report examined loans made from FY2012 - FY2016
Release Date: 
Monday, March 12, 2018
Release Number: 
18-15
Contact: 
Terrence.Sutherland@sba.gov

Washington – This week, the U.S. Small Business Administration received a report from its Inspector General on loans made to poultry farmers. The report focuses on 11 loans that were made from FY 2012 - FY 2016 and, by extension, questioned whether the remaining 1,500 poultry loans made during that five year period met SBA’s eligibility requirements. The SBA has reviewed those 11 loans, and confirmed that they were correctly made in accordance with Agency policy at the time. The loan guarantees will continue to be honored for those and other similar poultry loans.  As always, SBA loan guarantees are backed by the full faith and credit of the U.S. Government.

Small business loans are at the core of the SBA mission, and the Agency is examining the policies and procedures around poultry loans to ensure SBA loans continue to be directed towards those small businesses most in need of assistance.