Query Regarding Availability of Fund for Making Business Loans
B-209680: Published: Feb 24, 1983. Publicly Released: May 6, 1985.
- Full Report:
Pursuant to a congressional request, GAO investigated the availability of the Economic Development Revolving Fund for making direct loans to qualified businesses during the current fiscal year (FY). GAO believes that the fund is available for this purpose in its entirety during FY 1983, although the Economic Development Administration is not required to make any direct loans. As long as the funds are kept available for other authorized assistance purposes, the question of a possible impoundment does not arise.