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B-178250 1 (1973-08-06)

handle is hein.gao/gaobaduvk0001 and id is 1 raw text is: 139 COMPTROLLER GENERAL. OP TH4E UNITED STATES - ~WASHINGTON, D.C. 2054S 3-17850AU G 6' 1973 ft* vouoaWb Thams S. zIoppt Adinitrater smal IWAOMs AWNSaitratlso 'Ay lattn! datd H~rcb 19, 1913p your Director, Office of Lo4n Adalsittatiwa, requested our decision as to the proprinty of paymt th ft-l Reu 3iaeus MadistratIft (SM) of the olaim of )Ictachlen gatiowa Dank, WVultons D*O p vhinh C*4 to i based on the facts eeerib*4 below. Stuee the Dirstatt do%* not appear to be ani aautborized certifying of fica he Is not entitlsd to aa advance 4cieioa by our office. if_. 31 U.S.C. 82d.$ Mmcso our reP4~ is being =ad to you as bead e1, the as*=y futred, pursant to 31 VJ,.C. 7445.. 26 Ca*. ft~ aUmary 27, 1972, SBA apptovad an oconomic opportunity loan to 0doin$ busixa as Rate's C=r7 Out Shop in Vashimgtau, DoC. Only SBM oey mw InvolvaA in this $24,000 loan. The smy inn 4ibursed to Mr. o t'hre difhtveh t occaioua; on u 1ech 8, 1972, Im the amount of 116,166.57; on MaiW=7~2 1972, in the amwunt of $3,700.00-0 a on Aprilt 21t, 1972, I.n the aont of- 04,.33.43, 1.4 orier to uet his creditars' demnd , Mr. obtained rzturin fiuancing fIou Xa±Tchlen %=k before ahindaring thb 4isburswant period of tbe ODA loans sometim iu February 1972 in the aaWut of $3,500; on MArch 3, 1972,.fbr $1,500; and on Karch 29, 1972. in the a==ut of $2,000. rhemo interim loans wea vade subsoquent to SBA I*= appzvoial and 'v4tb SM~'s k~nowedge. XcLachla each lnetanc* looked to tb*e SBA as a source of repaycant. Mr. has roP4Id $3,500 and $1t500 obaa~tlo bI t the $2,000 loan rw~ins UWAUd. Mcwr&Lug to the statement by H*r. Claxen H. Chandler, Chief,, hiuacig Divialmn, SU, ItU Dauk prior to makIng a loan owAttmeant to Mr. cmcted ft. chandler to detemine vbstbhe tho MEA ha in haet approved a kIAM to 14T, and requasted that tbo RAwk be iusda a also~ oa the 55k cback$ to whicb rinquat OU agro. Mcotd~ng to Mr. Cbmaudlr Ohw U4a was&d a **-pay*. an that $Uk disbi met check to Mt. mid Mr., p#4d off Uis tint two interim Bank Icas thmrom. In dinscriblg the third loan **U by the 3ack to mt. MV-. GhinAle etatat: W~t~V~t.t. I ,....

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