Peggy E. Gustafson, Inspector General, U.S. Small Business Administration, Before the Small Business Committee, United States House of Representatives, April 21, 2010
… of the accuracy of SBA’s data from FY 2009 showed a higher rate of error in that approximately 97 percent of the … loan approvals, and estimated that the improper payment rate was at least 46 percent of $3.4 billion in loans … $1.5 billion. SBA also reported that the improper payment rate for the 7(a) Program was 0.53 percent for FY 2008. Of …