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GGD-75-101 1 (1975-10-09)

handle is hein.gao/gaobaaawj0001 and id is 1 raw text is: 



                UNITED STATES
             ERAL ACCOUNTING OFFICE
REP OIT TQ91HE


LIBRARY SYSTEM


CONGRESS


O00eo


BY THE COMPTROLLER GENERAL

OF THE UNITED STATES


LM096805


Substantial


Losses


Projected For The Small

Business Administration's

Lease Guarantee Program






The law requires the lease guarantee program
to be self-sustaining; however, GAO projects
losses of $17 million on policies issued
through fiscal year 1974. Many policies were
issued to businesses with major deficiencies
and for special limited-use properties which
were difficult to re-rent. The fund's solvency
has not been monitored and premium rates
have not been reassessed since January 1971.
Additional appropriations may be needed to
cover the agency's projected losses on lease
guarantees.


GOD-75-101


.O             .  9 1 9 7


An

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