Small Business: Analysis of SBA's Preferred Lenders Program
RCED-92-124
Published: May 15, 1992. Publicly Released: Jun 15, 1992.
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Highlights
Pursuant to a congressional request, GAO reviewed the Small Business Administration's (SBA) Preferred Lenders Program, focusing on: (1) preliminary program results; (2) characteristics of preferred loans compared with other SBA-guaranteed business loans; (3) the geographic distribution of preferred loans; and (4) independent audit determinations of preferred lenders' compliance with SBA regulations.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Small Business Administration | Because of the increasing volume of preferred loans and to ensure that SBA is aware of the performance of all lenders, the Administrator, SBA, should require the Assistant Administrators for Information Resources Management and for Financial Assistance to develop an automated process capable of compiling loan data on individual lenders and ensure that monitoring staff use this information when reviewing lenders' performance and renewing lenders' certification. |
SBA is modifying the existing system to ensure that it accurately compiles loan information on individual lenders.
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AuditsComparative analysisGovernment guaranteed loansLending institutionsLoan defaultsManagement information systemsPrivate sectorSmall business assistanceSmall business loansInterest rates