Peggy E. Gustafson, Inspector General, U.S. Small Business Administration, Before the Small Business Committee, United States House of Representatives, April 21, 2010
… loans, with SBA reviewing the loan requests only for eligibility.The OIG found that PCLs may not have used prudent … $8.9 million, due to (1) poor loan underwriting and (2) eligibility or loan closing issues. Projecting the sample … loan proceeds, had weaknesses in the underwriting process, eligibility determinations, or loan closing practices. The …