Reports
This page provides the Office of Inspector General's Recovery Act Monthly Reports.
The American Recovery and Reinvestment Act of 2009 (Recovery Act) provides for reduced loan fees, higher guaranties, new SBA credit programs, secondary market incentives, and enhancements to current SBA programs to help unlock credit markets and begin economic recovery for the nation’s small business sector.
Please follow the links and information below for additional information.
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The attached Management Letter discusses a matter identified during KPMG's audit of SBA's FY 2011 financial statements that relates to SBA's compliance with guidance for approving Section 503 - 504 First Mortagage Lien...
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On September 30, 2011, the OIG issued the third in a series of reports resulting from our ongoing audit of purchased 7(a) Recovery Act loans. This report identifies documentation deficiencies found in twenty-four, or 40 percent, of a...
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This was the second in a series of reports resulting from our ongoing audit of purchased 7(a) Recovery Act loans. The report identified five early-defaulted loans that resulted in questioned costs of $2.7 million and warrant immediate...
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This report identifies four early-defaulted loans that warrant immediate attention by the Small Business Administration (SBA) in order to recover approximately $3.2 million. We reviewed these loans as part of our ongoing audit of...
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This report represents the results of our audit regarding the effectiveness of the Small Business Administration’s (SBA) internal controls to ensure the quality of federal spending information that is made available to the...
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Memorandum To: Grady Hedgespeth Director, Office of Financial Assistance John A. Miller Director, Office of Financial Program Operations /s/ Original Signed From: Peter L. McClintock Deputy Inspector General Date: March 2,...
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Memorandum To: Steven Smits Associate Administrator for Capital Access /s/ Original Signed From: Peter McClintock Deputy Inspector General Subject: Recovery Act 7(a) Loan Guaranty Approvals ROM 11-02 Date: December 15, 2010...
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Memorandum To: Jon I. Carver Chief Financial Officer /s/ Original Signed From: Peter McClintock Deputy Inspector General Subject: Improper Allotment of Recovery Act Apportionments Report No. ROM 11-01 Date: December 15,2010...
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ROM 10-19 - Material Deficiencies Identified in Early-Defaulted and Early-Problem Recovery Act LoansTo: Eric R. Zamikow Associate Administrator for Capital Access /s/ Original Signed From: Debra S. Ritt Assistant Inspector General for Auditing Subject: Report on Material Deficiencies Identified in Early-Defaulted and Early-Problem...
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Date: September 22, 2010 To: Eric R. Zarnikow, Associate Administrator, Office of Capital Access From: Debra S. Ritt, Assistant Inspector General for Auditing Subject: Notice of Finding and Recommendation on Lender-Approved ARC Loans...