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Management Alert Paycheck Protection Program Loan Recipients on the Department of Treasury’s Do Not Pay List

Review · Small Business Administration OIG · 2021-01-11 · about Small Business Administration

Report

Title
Management Alert Paycheck Protection Program Loan Recipients on the Department of Treasury’s Do Not Pay List
Submitting OIG
Small Business Administration OIG
Component agency
Small Business Administration
Type
Review
Publication date
2021-01-11

Recommendations (3)

#StatusText
1ClosedPromptly identify PPP loans that have not been fully disbursed and follow-up with the lenders to stop $280 million in potential improper loan disbursements.
2ClosedStrengthen SBA controls to ensure that loans to ineligible recipients are not forgiven.
3ClosedReview prepayment and pre-award procedures and work with Treasury to formulate a technical approach to use Treasury’s DNP portal to determine loan applicant eligibility and prevent improper payments before the release of any federal funds.

Source

Authoritative
oversight.gov report page
Machine
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