What GAO Uncovered

In June 2021, GAO identified 15 precedence recommendations for the Little Small business Administration (SBA). Considering that then, SBA carried out three of those people tips, including by creating and implementing an oversight strategy for Paycheck Defense Software financial loans and by having actions to enhance financial institution compliance with a 7(a) method prerequisite.

In February 2022, GAO identified 3 further precedence tips for SBA, bringing the complete variety to 15. These tips include the adhering to areas:

  • Improving upon oversight and conversation for COVID-19 pandemic reaction.
  • Improving catastrophe recovery endeavours.
  • Increasing export advertising operations.

SBA’s continued attention to these challenges could direct to sizeable improvements in governing administration functions.

Why GAO Did This Analyze

Priority open up recommendations are the GAO tips that warrant precedence awareness from heads of key departments or organizations due to the fact their implementation could save large amounts of dollars boost congressional or executive branch decision-earning on significant issues remove mismanagement, fraud, and abuse or guarantee that applications comply with laws and money are legally spent, amongst other gains. Given that 2015, GAO has sent letters to chosen businesses to spotlight the great importance of utilizing these types of suggestions.

For more details, contact Dan Garcia-Diaz at (202) 512-8678 or [email protected].