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… Litigation Plan for 7(a) and 504 Loans SBA Lenders use this template to seek SBA approval of litigation plans under 7(a) and 504 loan programs, and for any amendments to such plans. Support A Litigation Plan should be prepared prior to taking any …

… Liquidation Wrap Up Report Authorized CDCs must submit a Wrap-Up Report to the appropriate SBA Loan Center after … Loan liquidation activities. SBA form The submission of a Wrap-up Report indicates that no further collection action … For each 504 Loan classified in liquidation status, a Wrap-up Report must be prepared and submitted to the …

… 13 CFR §120.823(d)(3), the Board of Directors (Board) of a Certified Development Company (CDC) is responsible for … the CDC manager and reviewing all salaries.” The Board has a duty to carry out this responsibility with “…no actual or appearance of a conflict of interest.” Additionally, under 13 CFR § …

… that any funds generated from 504 loan activity by a CDC remaining after payment of staff and overhead expenses must be retained by the CDC as a reserve for future operations or invested in other local … activity in its Area of Operations (13 CFR § 120.825). A CDC’s Board of Directors is required to ensure that a CDC’s …

… programs. The Loss Report focuses on the actual losses as a percentage of disbursements made to date on SBA loan programs. The report allows the user, at a glance, to review historical and current year data for each … has exhausted these collection methods does SBA classify a loan as charged-off. For guaranty loans, the loan must …

… OIG High Risk 7(a) Loan Review Program This management advisory presents the evaluation results of two 7(a) loans as part of our ongoing High Risk 7(a) Loan Review Program. Report 18-23 This is the second in a …

… High Risk 7(a) Loan Review Program This management advisory presents the evaluation results of two 7(a) loans as part of our ongoing High Risk 7(a) Loan Review Program. Report 18-21 This is the first in a …

… unauthorized commitments at six other federal agencies of a similar size.  Further, the OIG believes that the 417 … of the culture needs to occur.  In order to implement a successful culture change, the SBA needs to hold its …

… borrowers had repayment ability, and these loans are at a higher risk of default. According to a senior ODA management official, the SOP 50 30 7 criteria …

… the correct amount.  The OIG found that the SBA approved a total of nearly $1 million more than it should have for 11 … officers processing the applications and were approved by a separate supervisory loan officer.  Thus the OIG concluded … amount. The OIG recommended that the agency develop a checklist for key requirements such as applicant …

… Fiscal Year 2008 Improper Payment Rate for the 7(A) Guaranty Loan Program Report 9-16 – The Small Business … Fiscal Year 2008 Improper Payment Rate for the 7(A) Guaranty Loan Program Report 9-16 This report summarizes … Fiscal Year (FY) 2008 improper payment rate for the 7(a) Guaranty Loan Program (7(a) program). The Improper …

… Office of Inspector General High Risk 7(a) Loan Review Program This management advisory presents the evaluation results of two 7(a) loans as part of our ongoing High Risk 7(a) Loan Review Program. Report 19-15 This management advisory …

… Office of Inspector General High Risk 7(a) Loan Review Program This management advisory presents the evaluation results of two 7(a) loans as part of our ongoing High Risk 7(a) Loan Review Program. Report 19-16 This management advisory …

… Office of Inspector General High Risk 7(a) Loan Review Program This report presents the evaluation results of one 7(a) loan as part of OIGs High Risk 7(a) Loan Review Program Report 20-18 This management advisory …

… authorized funds up to $25 million for SBA to administer a grant to an association or associations representing resource partner centers to establish a single centralized hub for COVID-19 information.   We found …

… institutions on how to return PPP funds and implementing a process for SBA to accurately handle and track the returned … return of funds, returning the funds to SBA, conducting a fraud review, reversing forgiveness when appropriate, and handling loans with only a partial return of funds. Seek periodic assurance from …

… Baking People Happy As a young entrepreneur with a passion and a dream, Joshua Wortham took an obstacle and turned it into …