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Duplicate Loans Made Under the Paycheck Protection Program
… PPP loans. As a result, lenders made more than one PPP loan disbursement to 4,260 borrowers with the same tax identification number and borrowers with the same business name and address. These disbursements totaled about … any improper payments Review controls related to all PPP loan reviews to ensure that duplicate loans are not forgiven … -
SBA’s Handling of Potentially Fraudulent Paycheck Protection Program Loans
… 22-13 The Office of Inspector General (OIG) found that the Small Business Administration (SBA) did not have an organizational … -
Ending Active Collections on Delinquent COVID-19 Economic Injury Disaster Loans
… outstanding balance of $100,000 or less. Report 23-16 The Small Business Administration's (SBA) Office of Inspector General … on a cost-benefit analysis that used a dissimilar loan program and a private-sector loan servicing model to … -
SBA's Handling of Identity Theft in the COVID-19 Economic Injury Disaster Loan Program
… of Identity Theft in the COVID-19 Economic Injury Disaster Loan Program This report presents the results of our … the results of our verification inspection of the U.S. Small Business Administration’s (SBA) corrective actions for the … -
Independent Auditors’ Report on SBA’s Fiscal Year 2023 Compliance with the Payment Integrity Information Act of 2019
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Audit Report 14-16: Effectiveness and Timeliness of the Hurricane Sandy Disaster Loan Closing and Disbursement Processes
… and Timeliness of the Hurricane Sandy Disaster Loan Closing and Disbursement Processes Audit Report 14-16: … and Timeliness of the Hurricane Sandy Disaster Loan Closing and Disbursement Processes Report 14-16 On … and Timeliness of the Hurricane Sandy Disaster Loan Closing and Disbursement Processes . This report … -
Audit Report 13-16R: Purchase Reviews Allowed $4.6 Million in Improper Payments on 7(a) Recovery Act Loans
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ROM 10-18 - Notice of Finding and Recommendation on Lender-Approved ARC Loans to Affiliates
… conducted an audit of the America's Recovery Capital (ARC) Loan Program to determine whether SBA: (1) implemented adequate program guidance to achieve the ARC Loan Program's legislative goals; and (2) conducted effective oversight of the ARC Loan Program. This Notice of Finding and Recommendation (NFR) … -
Report 12-08: SBA’s Lender Loan Reporting Process has Systemic Reporting Issues and Data Control Weaknesses
… Report 12-08: SBA’s Lender Loan Reporting Process has Systemic Reporting Issues and Data … Fiscal Transfer Agent’s controls and security over the loan reporting and servicing process. Report 12-08 This … Fiscal Transfer Agent’s controls and security over the loan reporting and servicing process. The objective of our … -
Second Notice of Revised Procedures for Addressing Hold Codes and Compliance Check Error Messages on PPP Loans
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NC 16151 - SBA Adds Two Counties in North Carolina for Private NonProfit Organizations Affected by Hurricane Dorian
… Affected by Hurricane Dorian ATLANTA – The U.S. Small Business Administration announced today that certain Private … terms up to 30 years. Applicants may be eligible for a loan amount increase up to 20 percent of their physical … -
GA 15339 - SBA Deadline is June 28 for Working Capital Loans to Private NonProfit Organizations in Georgia
… NonProfit Organizations in Georgia ATLANTA – The U.S. Small Business Administration is reminding Private NonProfit (PNP) … of the June 28 deadline to submit Economic Injury Disaster Loan applications for damages caused by Hurricane Irma on … -
WEDNESDAY: Obama Cabinet Member to Highlight Economic Opportunity in Houston Area
… – Maria Contreras-Sweet , Administrator of the U.S. Small Business Administration (SBA) will travel to Houston to … on recent developments in the U.S. economy regarding small business and entrepreneurship. Contreras-Sweet will … -
SBA Disaster Loans Available in Vermont for Private Non-Profit Organizations
… for Private Non-Profit Organizations ATLANTA -The U.S. Small Business Administration (SBA) announced today that certain … terms up to 30 years. Applicants may be eligible for a loan amount increase of up to 20 percent of their physical … -
Native American SDVOSB and SBA 8(a) Business Graduate Mentors Others
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Readout of SBA Administrator Guzman’s visit to Las Vegas
… in President Biden’s Cabinet for America’s 33 million small businesses, visited Las Vegas, NV to meet with area … Juanny Romero, who was recently named the Nevada Small Business Person of the Year and the National Small Business … SBA delivered over 1,000 loans through its flagship 504 loan program to AANHPI-owned small businesses to the total of … -
SBA Disaster Loans Available in New Hampshire for Private NonProfit Organizations
… for Private NonProfit Organizations ATLANTA -The U.S. Small Business Administration (SBA) announced today that certain … terms up to 30 years. Applicants may be eligible for a loan amount increase of up to 20 percent of their physical … -
Relief on the Way: SBA Offers Disaster Aid for Flood Recovery in Lewis County, New York
… Recovery in Lewis County, New York WASHINGTON – The U.S. Small Business Administration (SBA) announced that Low-interest … a few days, SBA will announce the opening of a Disaster Loan Outreach Center where SBA disaster representatives will … -
Let the SBA Help You Better Understand Your Finances
… reminder of the importance of understanding finances. U.S. Small Business Administration The SBA works to ignite change and … to reduce their risk, increasing the likelihood your loan will be approved with the terms that work best for you. …