Audit Report 13-07: The Small Business Administration’s Improper Payment Rate for 7(a) Guaranty Purchases Remains Significantly Underestimated
… review process that the Small Business Administration (SBA or the Agency) used to estimate its FY 2011 improper … the 30 sampled 7(a) guaranty purchase loans reviewed, the SBA did not detect all improper payments when conducting … have adequate time to conduct reviews. As a result, the SBA reported an improper payment rate of 1.73 percent or …