Peggy E. Gustafson, Inspector General, U.S. Small Business Administration, Before the Small Business Committee, United States House of Representatives, April 21, 2010
… 23 percent of the SBA-approved loans and 53 percent of the lender-approved loans. These problems included deficiencies … government contracts; and Fraud by loan agents and/or lender employees who seek financial gain by orchestrating … in a scheme to provide fraudulent information to a lender and SBA to approve a $1.35 million SBA-guaranteed loan …