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Small Business Administration: Size of the SBA 7(a) Secondary Markets is Driven by Benefits Provided

GGD-99-64 Published: May 26, 1999. Publicly Released: May 26, 1999.
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Highlights

Pursuant to a congressional request, GAO provided information on the secondary markets for 7(a) small business loans guaranteed by the Small Business Administration (SBA), focusing on: (1) the benefits and risks of secondary loan markets to participants; (2) primary benefits and risks to participants in the guaranteed 7(a) secondary market and the unguaranteed 7(a) secondary market; and (3) a comparison of the guaranteed 7(a) secondary market with the secondary market for federally guaranteed residential mortgages, and the unguaranteed 7(a) secondary market with the secondary market for residential mortgages without a federal guarantee.

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Topics

Comparative analysisGovernment guaranteed loansLending institutionsMortgage loansMortgage programsMortgage-backed securitiesRisk managementSmall business loansSecondary marketsSecurities