Peggy E. Gustafson, Inspector General, U.S. Small Business Administration, Before the Small Business Committee, United States House of Representatives, April 21, 2010
… reports focused on the early identification of problem loans and Agency controls over programs financed by the … for-profit businesses. CDCs typically originate CDC/504 loans and forward them to SBA for approval; however, lenders … are authorized to approve, close and service CDC/504 loans, with SBA reviewing the loan requests only for …