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Lending institutions (1 - 10 of 37 items)
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,...
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...
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...
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...
Small Business Administration: Actions Needed to Improve the Usefulness of the Agency's Lender Risk Rating System
GAO-10-53: Published: Nov 6, 2009. Publicly Released: Dec 7, 2009.
The Small Business Administration (SBA) guarantees individual loans that lenders originate. The agency uses its Loan and Lender Monitoring System (L/LMS) to assess the individual risk of each loan, and SBA's contractor developed a lender risk rating system based on L/LMS data. However, questions have been raised about the extent to which SBA has used its lender risk rating system to improve its ov...
Small Business Administration's Implementation of Administrative Provisions in the American Recovery and Reinvesment Act
GAO-09-507R: Published: Apr 16, 2009. Publicly Released: Apr 16, 2009.
Under the American Recovery and Reinvestment Act of 2009 (ARRA), Congress required the Small Business Administration (SBA) to implement a total of eight administrative provisions to help facilitate small business lending and enhance liquidity in the secondary markets. These administrative provisions include (1) temporarily requiring SBA to reduce or eliminate certain fees on 7(a) and 504 loans; (2...
Small Business Administration: Additional Guidance on Documenting Credit Elsewhere Decisions Could Improve 7(a) Program Oversight
GAO-09-228: Published: Feb 12, 2009. Publicly Released: Mar 16, 2009.
The Small Business Administration's (SBA) 7(a) program is intended to provide loan guarantees to small business borrowers who cannot obtain conventional credit at reasonable terms and do not have the personal resources to provide financing themselves. In fiscal year 2008, SBA guaranteed over 69,000 loans valued at about $13 billion. To assist in oversight of the 7(a) program, GAO was asked to (1)...
Rural Economic Development: Collaboration between SBA and USDA Could Be Improved
GAO-08-1123: Published: Sep 18, 2008. Publicly Released: Sep 18, 2008.
The Small Business Administration (SBA) and the Rural Development offices of the U.S. Department of Agriculture both work in rural areas to foster economic development by promoting entrepreneurship and community development. This report discusses (1) the complementary nature of some SBA and Rural Development programs and the extent to which it provides a rationale for the agencies to collaborate,...
Small Business Administration: 7(a) Loan Program Needs Additional Performance Measures
GAO-08-226T: Published: Nov 1, 2007. Publicly Released: Nov 1, 2007.
The Small Business Administration's (SBA) 7(a) program, initially established in 1953, provides loan guarantees to small businesses that cannot obtain credit in the conventional lending market. In fiscal year 2006, the program assisted more than 80,000 businesses with loan guarantees of nearly $14 billion. This testimony, based on a 2007 report, discusses (1) the 7(a) program's purpose and the per...