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Small Business Administration's Disastrous Loans
Senate Committee on Homeland Security and Governmental Affairs Subcommittee on Federal Spending Oversight and Emergency Management
Senate Committee on Homeland Security and Governmental Affairs
Subcommittee on Federal Spending Oversight and Emergency Management
Abstract
From the Senate Committee on Homeland Security and Governmental Affairs, the Subcommittee on Federal Spending Oversight and Emergency Management led by Senator Rand Paul issued a weekly waste report on approximately 500 of the Small Business Administration's (SBA) Hurricane Sandy loans going into default within 18 months of issuance, with two thirds of the loan recipients making fewer than three payments, and more than half of those making no payment at all. These defaults represented 2.6% of SBA Sandy loans.
Date
2016-08-30
Document Type
Senate Majority Oversight Record
Serial Number
Document Length
1 page
Congress
114
Relation
DOI
Keywords
Oversight Records
PAP Major Code
20: Government Operations
PAP Minor Code
2002: Government Efficiency, General Regulatory Policy and Bureaucratic Oversight