Peggy E. Gustafson, Inspector General, U.S. Small Business Administration, Before the Small Business Committee, United States House of Representatives, April 21, 2010
… totaling $209 million involved problems in determining borrower eligibility and/or loan closing issues. Further, our … regulations require that any excess funds remaining after payment of staff and overhead expenses be retained by the CDC … to clarify the analysis that CDCs should use to determine borrower repayment ability and borrower eligibility, and that …