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ROM 10-02 – Review of the Recovery Act’s Impact on SBA Lending
… agencies to ensure that funds are strictly monitored. In response, the Office of Inspector General (OIG) is … activity and the Recovery Act’s impact. Our objectives in this review were to: (1) provide transparency on SBA loan … observations regarding trends and potential risk areas in SBA lending programs. While we identified some possible … -
Report 9-18 - SBA’s Management of the Backlog of Post-Purchase Reviews at the National Guaranty Purchase Center
… materially complied with SBA’s rules and regulations in originating, servicing, and liquidating the loans and to … from lenders. Production reports prepared by the Center in November and December 2007 showed that WPS reviews had … adequate oversight of the contractor and its reviews. In response to these concerns, the audit determined whether … -
Audit Report 09-12: Review of SBA's National Guaranty Purchase Center Furniture Contract
… Center Furniture Contract . This review was conducted in response to an anonymous complaint and subsequent … the contract. As a result, the SBA executed over $300,000 in improper payments against the contract. The SBA issued a … how it would use the advance payment and failed to perform in accordance with the terms of its contractor. Further, … -
Report 8-19 – Early-Defaulted Gulf Coast Disaster Loans
… Coast Hurricane Disaster Loans. We initiated the audit in response to the increasing number of defaulted Gulf Coast … during the application process; and (2) were serviced in accordance with loan provisions and regulations. The audit … -
White Paper: Risk Awareness and Lessons Learned from Prior Audits of Economic Stimulus Loans
… information regarding lessons learned and risks identified in prior audits and reviews that SBA should consider to … the Small Business Act. This program provides $349 billion in fully guaranteed SBA loans, which can be forgiven if used … economic stimulus loan programs identified areas of risk in SBA’s 7(a) loan program. Specifically, delays in … -
White Paper: Risk Awareness and Lessons Learned from Prior Audits of Entrepreneurial Development Programs
… to the Coronavirus (COVID-19) pandemic. The increase in Federal funds to SBDCs, WBCs and resource partner … by the additional disaster technical assistance funding. In summary, to ensure the integrity of entrepreneurial … SBA should: Establish clear oversight requirements in the notices of award and ensure program officials and … -
Guidance on Participation Sales for PPP Loans
… Loans Provide guidance to Lenders approved to participate in the Paycheck Protection Program (“PPP”) regarding the sale of participating interests in PPP loans. Procedural notice 5000-20021 The purpose of … is to provide guidance to Lenders approved to participate in the Paycheck Protection Program (“PPP”) regarding the sale … -
SBA’s Award and Payment Practices in the Shuttered Venue Operators Grant Program
… SBA’s Award and Payment Practices in the Shuttered Venue Operators Grant Program This report … of our inspection of SBA’s Award and Payment Practices in the Shuttered Venue Operators Grant Program. Report 22-15 … not ensure it had adequate support for the grant amounts in 3 of the 10 awards we reviewed. SBA awarded these three … -
National Hispanic Heritage Month
… National Hispanic Heritage Month As Latino communities in this state grow, we want to showcase NH’s Business Review (NHBR) 2022 Outstanding Women in Business recipient, Sanda Almonte owner of Don Quijote Restaurant in Manchester, who has been serving authentic Caribbean food … -
2023 New Hampshire Veteran-Owned Business of the Year is Rick Page of R.A. Page Farmhouse Furniture of Laconia
… NH Lake’s Region treasure, R.A. Page Farmhouse Furniture in Laconia. Rick was inspired at a very young age to learn … to join the U.S. Air Force, his creative side appeared in a different form where he served as a musician providing … to foster veterans to start and grow small businesses. In 2022, SBA reports that veterans own 2.4 million … -
Engineer Brings the Dessert Flavors of Mumbai to San Francisco with SBA Assistance
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SBA Celebrates ‘National Farmers Market Week’ in New Hampshire
… SBA Celebrates ‘National Farmers Market Week’ in New Hampshire The second week of August (Aug 7-13th), … ‘National Farmers Market Week’, highlighting their role in supporting healthy communities, food systems and … typically consisting of booths, tables, or stands and here in New Hampshire are plentiful, often year round and located … -
Readout on SBA Administrator Isabella Casillas Guzman at New Veterans Business Outreach Center Opening in Charleston
… Guzman at New Veterans Business Outreach Center Opening in Charleston CHARLESTON, SC – On Monday, June 5, 2023, SBA … Pamela Evette and Charleston Mayor John Tecklenburg in Charleston to celebrate the opening of a new Veterans Business Outreach Center (VBOC ). In the United States, there are nearly two million … -
U.S. Small Business Administration Announces Strategic Alliance to Support Small Business Exporters
… with organizations such as ITFA play a key role in supporting these globally minded businesses, said … . “Our joint efforts will leverage the thought leaders in both the SBA and ITFA to grow support for export finance. … financial institutions, and service providers involved in trade risk and asset origination and distribution, … -
SVOG Spotlight Series: Cappella Clausura
… Cappella Clausura is a professional vocal ensemble based in Newton/Boston founded by Amelia LeClair, with the mission … grew to their first-ever, full-time Executive Director in August of 2019 – a positive sign that the company was growing. No live concerts planned; … -
U.S. Small Business Administration Marks 70th Anniversary
… The SBA was founded by President Dwight D. Eisenhower in 1953 when he signed the landmark “Small Business Act,” … . The SBA will also announce 68 Legacy Business recipients in the coming days and weeks, with events honoring those businesses in multiple cities around the United States. Many Legacy … -
U.S. Small Business Administration & Department of Defense Highlight President Biden’s AM Forward Initiative
… SBIC program, we will accelerate manufacturing innovation in the U.S. industrial base by enabling access to capital and … and medium-sized businesses continue to lead the world in innovation and critical technologies,” said Deputy … established by Secretary of Defense Lloyd J. Austin III in December 2022, is a DoD initiative that will partner with … -
SBA Announces Its First Rural Communities Act Disaster Declarations
… which expanded access to affordable federal disaster loans in rural communities. Businesses and residents affected by recent disasters in Alabama, Nevada, and California are now eligible for … more small businesses, nonprofits, renters, and homeowners in disaster-impacted communities in Nevada and across the … -
Minneapolis Jeweler Got Its Start and Has Grown with Help from the SBA
… and Kelsey Lee-Karol, co-owners of New Gild Jewelers in Minneapolis, Minn., met as jewelers working in the industry for others. Restless, they dreamt of opening … good wages and supportive working conditions. Going for it in 2017, they made the leap from employees to owners with a …