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OIG-25-019-A - Recommendation 4.

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
4.

Recommendation text

4. 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 develop procedures to ensure that the Risk Analysis System identifies areas of concern (such as high delinquent, default, or write off rates) and require that appropriate corrective actions are taken to address these areas of concern.