Audit Report 14-06: Two Economic Injury Disaster Loans Defaulted After the SBA Made Approval Decisions Totaling $1.4 Million without Mitigating the Reasons for Prior Denials
… by elected officials and loan reconsiderations. As a result, the OIG reviewed these loans to determine if SBA … to overcome deficiencies. The decisions involved a $736,300 working capital disaster loan and a $671,900 loan … the funds to relocate, not for working capital. The other business also appeared to be ineligible for a loan increase …