HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.
![handle is hein.gao/gaobaabqa0001 and id is 1 raw text is:
DOCUMENT RESONB
00022 - CA07510583
(Small Business Administrations Compliance with Couptzoller
General's Decision on Purchase of Guaranteed loans]. CED-77-26;
B-181432. January 26, 1977. 11 pp.
Report to Mitchell P. gobelinski, Administrator, Small Besiness
Ldminist-ation; by Henry Eschvege, Dirtctor, Community and
Economic Development Div.
Contact: Community and Sconoamic Development Div.
7dget Function: Commerce atd Transportation: Other Advancement
ans Regulation of Commerce (403).
Congressional Relevance: House Comsittec on Small Business;
Senate Select Committee on Small Bumises.
The Small Business Authority (SBA) lacks authority to
purchase guaranteed loans from banks which have not ccmplied
with SBA requlations requiring notification of a borrower's
delinquency within 30 days. The files for 80 guaranteed loans
porchased a.d !comr loans rejected for purchase at SBA's Boston,
ransas City, and San Francisco district office- were examined,
is were 106 randomly selected loan authorizatL purchases to
detervine the extent of compliance with this requlatto.
Findirgs/Conclusions: The Boston and Kansas t'ity District
Office3 had ,;ot made a satisfactory analysis of possible harm to
the Goternment from late delinqpency noticas. The loan
specialists at these offices vere unable to explain '.heir
serious harm deterainations and were uncertain about
requirements for these determinations. The failure of SBA
procedures to instruct loan officers on how to determine the
effects of late delinquency notices may have contributed to the
inadequacy of these determinations. Twenty five loan purchares
were approved at Washington headquarters without evidence of
compliance. Recommendations: The Administrator of the SB
should review purchase documents in the Accounting Operations
Division to determine whether an initial review for nerious harm
vas made by district offices, and reexamine the effects of late
delinquency notice for all loans. (RRS)](ViewImageLocal?handle=hein.gao/gaobaabqa0001&div=1&collection=&method=preview&ext=.png&size=3)