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What GAO FoundAs of October 2011, SBA had completed one of the seven projects and awarded contracts for work on three others. However, the projects are experiencing increasing costs and schedule delays.
In March 2003, the Department of State (State) awarded a sole-source contract to EmbSEC, a Virginia limited liability corporation, for work at U.S. embassies. The contract currently has a ceiling price of $354 million.
The Small Business Administration (SBA) approved about $8.6 billion in loan guarantees through its 7(a) loan program in fiscal year 2003. SBA must estimate the subsidy cost of this program. Since fiscal year 2003, SBA has been using econometric modeling to estimate the subsidy.
Congress created the Historically Underutilized Business Zone (HUBZone) program to stimulate economic development and create jobs in distressed urban and rural areas. To achieve these goals, the HUBZone program provides small businesses with greater access to federal contracting opportunities.
Pursuant to a congressional request, GAO assessed the strengths and weaknesses of the Small Business Administration's (SBA) 8(a) program information system, focusing on: (1) whether the system meets the information needs of SBA field and headquarters staff; and (2) what plans, if any, does SBA have for...