Small business loans (1 - 10 of 117 items) in Custom Date Range
Small Business Administration: Additional Steps Needed to Help Ensure More Timely Disaster Assistance
GAO-14-760: Published: Sep 29, 2014. Publicly Released: Oct 23, 2014.
Following Hurricane Sandy, the Small Business Administration (SBA) did not meet its timeliness goal for processing business loan applications. From application receipt to loan decision, SBA took an average of 45 days to process physical business disaster loans and 38 days for economic injury loans, both of which exceed SBA's 21-day application processing goal. SBA said it was challenged by an unex...
Small Business Administration: Review of 7(a) Guaranteed Loans to Select Franchisees
GAO-13-759: Published: Sep 10, 2013. Publicly Released: Nov 13, 2013.
Analysis of guaranteed loans to franchisees of a select franchise organization reviewed by GAO, approved from January 1, 2000, to December 31, 2011, showed the Small Business Administration (SBA) approved a total of about $38.4 million for 170 loans made by 54 lenders. SBA's guaranteed portion on these loans was approximately $28.8 million. Of the total population of 170 loans, 74 loans defaulted,...
Patriot Express: SBA Should Evaluate the Program and Enhance Eligibility Controls
GAO-13-727: Published: Sep 12, 2013. Publicly Released: Sep 12, 2013.
Patriot Express loans valued at about $703 million have defaulted at a higher rate than loans under the Small Business Administration's (SBA) other related loan guarantee programs, and losses for Patriot Express have exceeded its income. With the exception of loans approved in 2007, Patriot Express loans have defaulted at a higher rate than loans made under SBA's main 7(a) program or loans made un...
Small Business Lending: Opportunities Exist to Improve Performance Reporting of Treasury's Programs
GAO-13-76: Published: Dec 5, 2012. Publicly Released: Dec 5, 2012.
The U.S. Department of the Treasury (Treasury) has made progress in developing guidance and procedures to monitor participants' compliance with requirements for the Small Business Lending Fund (SBLF) and the State Small Business Credit Initiative (SSBCI) programs. In response to GAO's previous recommendation on SBLF monitoring, Treasury has developed procedures for monitoring SBLF participant comp...
Disaster Assistance: USDA and SBA Could Do More to Help Aquaculture and Nursery Producers
GAO-12-844: Published: Sep 11, 2012. Publicly Released: Sep 13, 2012.
The U.S. Department of Agriculture's (USDA) Farm Service Agency (FSA) and the Small Business Administration (SBA) have 10 disaster assistance programs that small agricultural producers and businesses that support agriculture can use to recover from natural disasters. These programs serve largely different populations but leave few gaps in the disaster assistance available to most small agricultura...
State Small Business Credit Initiative: Opportunities Exist to Improve Program Oversight
GAO-12-173: Published: Dec 7, 2011. Publicly Released: Dec 7, 2011.
Congress enacted the Small Business Jobs Act of 2010 in September 2010 in response to concerns that small businesses have been unable to access capital that would allow them to create jobs. Among other things, the act aims to stimulate job growth by establishing the $1.5 billion State Small Business Credit Initiative (SSBCI) within the Department of the Treasury (Treasury) to strengthen state and...
Participants in SBA's Microloan Program Could Provide Additional Information to Enhance the Public's Understanding of Recovery Act Fund Uses and Expected Outcomes
GAO-10-1032R: Published: Sep 29, 2010. Publicly Released: Oct 20, 2010.
This letter formally transmits and summarizes an oral briefing we gave on July 29, 2010, in response to Congress' request that we assess the extent to which the descriptions of the uses of American Recovery and Reinvestment Act of 2009 (Recovery Act) funds--published on Recovery.gov--enhance the public's understanding of how funds are being spent and what outcomes are expected. Our briefing focuse...
Hurricanes Katrina and Rita: Federally Funded Programs Have Helped to Address the Needs of Gulf Coast Small Businesses, but Agency Data on Subcontracting Are Incomplete
GAO-10-723: Published: Jul 29, 2010. Publicly Released: Aug 16, 2010.
Hurricanes Katrina and Rita wreaked havoc on small businesses in the Gulf Coast, and much federal assistance has been provided to help these businesses. GAO was asked to describe (1) the amount of assistance provided to Gulf Coast small businesses through the Small Business Administration's (SBA) disaster and Gulf Opportunity (GO) loans, state-administered business assistance programs funded by th...
Federal Housing Finance Agency: Oversight of the Federal Home Loan Banks' Agricultural and Small Business Collateral Policies Could Be Improved
GAO-10-792: Published: Jul 20, 2010. Publicly Released: Aug 11, 2010.
The Federal Home Loan Bank System is a government-sponsored enterprise comprising 12 regionally-based Federal Home Loan Banks (FHLBank), the primary mission of which is to support housing finance and community and economic development. Each FHLBank makes loans (advances) to member financial institutions in its district, such as banks, which traditionally are secured by single-family mortgages. In...
Status of the Small Business Administration's Implementation of Administrative Provisions in the American Recovery and Reinvestment Act of 2009
GAO-10-298R: Published: Jan 19, 2010. Publicly Released: Jan 19, 2010.
Due to recent turmoil in U.S. credit markets, many lenders have been reluctant to offer conventional loans--that is, loans not guaranteed by the federal government--to small businesses so that they can finance their operations and capital needs. While the Small Business Administration's (SBA) principal loan guarantee programs, the 7(a) and 504 programs, are intended to help small businesses raise...