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OIG-25-019-A - Recommendation 2.

Open · 2025-04-30

From report

Report
EDA Needs to Improve Oversight of CARES Act Revolving Loan Funds to Ensure Loans Are Made to Eligible Borrowers and Used as Intended
OIG report number
OIG-25-019-A
Recommendation number
2.

Recommendation text

2. We recommend that the Acting Assistant Secretary of Commerce for Economic Development Administration instruct the Director, Performance, Research and National Technical Assistance Division (or designee, including the Interim RLF Coordinator), to take appropriate actions for all noncompliances identified, such as suspending or terminating the RLF operator’s grant if not in compliance with federal regulations and their RLF plans.