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Evaluation of the CARES Act Debt Relief to 7(a) Borrowers

Inspection / Evaluation · Small Business Administration OIG · 2020-12-01 · about Small Business Administration

Report

Title
Evaluation of the CARES Act Debt Relief to 7(a) Borrowers
Submitting OIG
Small Business Administration OIG
Component agency
Small Business Administration
Type
Inspection / Evaluation
Publication date
2020-12-01

Recommendations (2)

#StatusText
1ClosedIncorporate procedures to verify the accuracy and reasonableness of the loan status, principal, interest, and any fees of loans before approving subsidy payments.
2ClosedEstablish post-payment audit procedures, using a risk-based approach, to verify the accuracy and completeness of all subsidy payments to lenders and include reviews of payments made to loans that changed from liquidation status to regular servicing…

Source

Authoritative
oversight.gov report page
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