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Eric M. Thorson, Inspector General U.S. Small Business Administration Before the Committee on Small Business and Entrepreneurship, United States Senate, July 12, 2006
… being awarded the contract; (2) large companies committing fraud to obtain small business contracts or using small firms … of up to $500,000 and 10 years in prison for such fraud in connection with an SBA small business contracting … we have opened 69 cases involving government contracting fraud and obtained 24 criminal fraud convictions, resulting … -
Head of the SBA Visits Small Businesses in Dallas, Texas And highlights the Role of Small Businesses in a Recovering Economy
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Statement from Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Success of the Paycheck Protection Program
… regarding the success of the Paycheck Protection Program (PPP): “The Treasury Department and SBA launched the … which will protect a vast number of American jobs. “The PPP enjoyed broad-based participation across the country from … of industries and businesses. From its start on April 3, PPP provided payroll assistance to more than 1.6 million … -
The Small Business Administration’s Implementation of Recommended Controls and the Economic Aid Act
… controls related to the Paycheck Protection Program (PPP). The Economic Aid Act continued assistance under the PPP for small businesses financially affected by the ongoing coronavirus pandemic. We found SBA implemented the PPP in accordance with the Economic Aid Act with two … -
SBA’s Paycheck Protection Program Loan Review Processes
… (SBA) processes for reviewing Paycheck Protection Program (PPP) loans for eligibility and forgiveness. SBA’s online loan … payment promptly creates uncertainty for borrowers and PPP lenders who are unsure if SBA will forgive their loans. … SBA made changes to allow certain loans to be reviewed for fraud and eligibility after they have been forgiven. We have … -
Work for OIG
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SBA Regional Administrator Rob Scott’s Statement on the Paycheck Protection Program’s Second Round of Funding
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Surety bonds
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Office of Disaster Recovery and Resilience
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SBA and Treasury Department Announce $10 Billion for CDFIs to Participate in the Paycheck Protection Program
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SBA and Treasury Announce Release of Paycheck Protection Program Loan Data
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Whistleblower Protection Laws: Employees of Contractors, Grantees, and Personal Services Contractors
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Joint Statement by SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin Regarding Enactment of the Paycheck Protection Program Flexibility Act
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COVID-19 Resources for Small Businesses
… impact from COVID-19 include: Paycheck Protection Program (PPP) : Accepting new applications through August 8, the PPP is an SBA-backed forgivable loan that has helped small … to pay their employees during the COVID-19 outbreak. The PPP Flexibility Act , passed last month, has extended the … -
Operate as an intermediary
… of the collateral, unless the loss was caused by fraud, negligence, violation of any of the ethical … -
Biden-Harris Administration Announces New Development and Improvements on Loan Program Modernization to Expand Access to Capital for Small Businesses
… lending, especially small-dollar lending. Add new fraud review on all loans. Building on President Biden’s commitment to root out fraud, the SBA will use advanced data analytics, third party data checks, and artificial intelligence tools for fraud review on all loans in the 7(a) and 504 Loan Programs … -
Returning Citizens Empowered to Start and Grow Businesses Under Proposed Rule
… to implement additional reforms to mitigate the risk of fraud in its traditional capital programs to ensure funds get … against SBA internal data for those connected to pandemic fraud and other resources related fraud against the federal government. Continue to allow SBA … -
About SBA
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Business Loan Program Improvements