Statement of Hon. Eric M. Thorson, Inspector General, U.S. Small Business Administration Before the Committee on Small Business and Entrepreneurship United States Senate July 25, 2007
… in New Orleans putting both investigators and auditors at the scene. Our audits of the various Agency disaster … loans, we determined that close to 8,000 were cancelled without any prior notification to the borrowers. These were … were being disbursed contrary to borrowers’ wishes and without obtaining all of the documents required to secure the …