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DCCUNE!VD FESUM3
03760 - [2794033]
Faceers Home kduinislration$s Business and Industrial Loan
Prograr can Be Improiod. CID-77-126; U-114873. September 30,
1977. 65 pp. + 4 ar.v1adices (12 pp.).
Report to the Congress; by Elmer B. Stdats, Comptroller General.
Isisue Area: Domestic Housing and Community Development (2100).
Contact: Community and Economic Development Dii.
Budget Panction: Community and Regional Development: Area and
Regional Developsent (452).
Organization Concerned: Farmers None Administration.
Congressional Relevance: Rouse Committee on Agriculture; Senate
Committee on Agriculture, Nutrition, and Forestry; Congress.
Authority: Rural Development Act of 1972 (P.L. 92-419).
Consclidated Yarn and Rural Development fict, as amended (7
U.S.C. 1932 (Supp. 1I)).
The business and industrial loan program of the Parmers
Home Administration (FmHA) was established to help to save and
create jobs ir rural areas. The Congress appropriated and the
agency obligated about $550 illior in loans during fiscal years
1974 and 1975, of which $117 million was designated for programs
in Alabama, Arkansas, Georgia, Louisiana, Mississippi, and
Tenncssee. Fineings/Conclusions- The Congress needs accurate
data to judge tae prcgrau's effectiveness. Although the agency
reported that 29,800 jobs were saved and created in fiscal year
1975, data supplied by the borrowers on approved loans showed
that only about 11,100 jobs were saved and created. The higher
number included figures for loans which had not been approved or
which had been deobligated as of June 30, 1976. Further, the job
data supplied by borrowers for 27 loans reviewed was oveGstated
by more than 100%. The agency is developing a management
information system for all its programs, but the accuracy of the
information put into the system needs to be veritied.
Recommendations: The FsHA could take a number cf actions to more
accurately report accomplishments so that the Congress can
better determine the program's effectiveness, improve loan
application assessments, provide better loan servicing, and
increase guidance to borrowers. In addition, action could be
taken to attain enough qualified staff. (Author/SC)](ViewImageLocal?handle=hein.gao/gaobaawcc0001&div=1&collection=&method=preview&ext=.png&size=3)