Small Business Administration: Accounting Anomalies and Limited Operational Data Make Results of Loan Sales Uncertain

United States. General Accounting Office.

United States. General Accounting Office.

关键词: Government accountability -- United States.;    auditing and financial management;    business regulation and consumer protection;    small business administration;    letter report;   

RP-ID  :  GAO-03-87
RP-ID  :  236796

美国|英语

来源: UNT Digital Library

【 摘 要 】

A letter report issued by the General Accounting Office with an abstract that begins "The Small Business Administration's (SBA) loan asset sales are being closely watched because similar sales are projected for other government agencies as a means of reducing loan assets and servicing costs. To assess the progress and effects of SBA's loan sales, GAO undertook this study to (1) describe the process for selling loans, (2) identify how lenders and borrowers have reacted to loan sales, (3) determine whether SBA is properly accounting for its loan sales and their subsequent impact on credit subsidy estimates, and (4) assess whether loan sales generated operational benefits for the agency. GAO did not determine whether SBA maximized proceeds from the loan sales."