Skip to main content

Small Business Administration: Improvements Made, but Loan Programs Face Ongoing Management Challenges

GAO-06-605T Published: Apr 06, 2006. Publicly Released: Apr 06, 2006.
Jump To:
Skip to Highlights

Highlights

The Small Business Administration's (SBA) purpose is to promote small business development and entrepreneurship through business financing, government contracting, and technical assistance programs. SBA's largest business financing program is its 7(a) program, which provides guarantees on loans made by private-sector lenders to small businesses that cannot obtain financing under reasonable terms and conditions from the private sector. In addition, SBA's Office of Disaster Assistance makes direct loans to households to repair or replace damaged homes and personal property and to businesses to help with physical damage and economic losses. This testimony, which is based on a number of reports that GAO issued since 1998, discusses (1) changes in SBA's oversight of the 7(a) business loan program; (2) steps SBA has taken to improve its management of information technology, human capital, and financial reporting for business loans; and (3) SBA's administration of its disaster loan program.

Full Report

Office of Public Affairs

Topics

Business development loansInternal controlsProgram managementRisk managementSmall business assistanceSmall business loansLoan managementPolicies and proceduresSmall businessDisaster assistance