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Small Business Administration OIG

The COVID-19 Assistance Information Systems Security Controls

The Office of Inspector General, Audits Division will conduct an evaluation of the COVID-19 assistance information systems security controls.  Our objective is to determine what internal controls the organization designed to address third-party contractor system cybersecurity risks caused by COVID-related economic relief transactions.
Small Business Administration OIG

Management Alert Serious Concerns About SBA’s Control Environment and the Tracking of Performance Results in the Shuttered Venue Operators Grant Program

The Office of Inspector General (OIG) is issuing this Management Alert regarding serious concerns with the control environment and the tracking of performance results in the Shuttered Venue Operators Grant (SVOG) program requiring immediate attention and action. SBA should take immediate action to reduce or eliminate risks by strengthening existing controls and implementing internal controls to address potential misuse of federal funds. Strong controls will ensure the SVOG program can effectively help eligible small business owners and entities that have suffered economic injury because of the...
Small Business Administration OIG

Inspection of SBA’s Implementation of the Shuttered Venues Operators Grants Program

The Office of Inspector General Audits Division will conduct an inspection of SBA’s implementation of the Shuttered Venues Operators Grants Program. Our objective is to assess whether SBA implemented the Shuttered Venues Operators Grant program with sufficient controls to ensure applicant compliance with the eligibility requirements in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act.
Small Business Administration OIG

Evaluation of SBA’s Award Procedures for the CARES Act Entrepreneurial Development Cooperative Agreements

This report found that SBA awarded the CARES Act entrepreneurial development cooperative agreements and grants in accordance with applicable federal laws, regulations, and guidance. We found program officials established performance goals and identified performance indicators. To more effectively ensure performance goals are achieved as intended, SBA should clearly define the performance goals and set performance targets. We recommended that SBA enforce standard operating procedures requiring defined performance goals and include performance targets in all future SBDC and WBC cooperative...
Small Business Administration OIG

SBA’s Handling of Potentially Fraudulent Paycheck Protection Program Loans

Inspection Notification: SBA’s Handling of Potentially Fraudulent Paycheck Protection Program Loans
Small Business Administration OIG

Duplicate Loans Made Under the Paycheck Protection Program

SBA OIG reviewed PPP regulations and the Paycheck Protection Program and Health Care Enhancement Act, in addition to guidance published in SBA’s PPP Interim Final Rules and PPP Frequently Asked Questions. We determined SBA did not always have sufficient controls in place to detect and prevent duplicate PPP loans. As a result, lenders made more than one PPP loan disbursement to 4,260 borrowers with the same tax identification number and borrowers with the same business name and address. These disbursements totaled about $692 million for PPP loans approved from April 3 through August 9, 2020. We...
Small Business Administration OIG

Inspection Notification: Small Business Administration's Implementation of the Economic Aid Act

The Office of Inspector General Audits Division will perform a review of the Small Business Administration’s implementation of the Economic Aid Act. The objective is to determine whether the Small Business Administration implemented the Paycheck Protection Program in accordance with the Economic Aid Act.
Small Business Administration OIG

Emergency Economic Injury Disaster Loan Grants Made to Sole Proprietorships

The Office of Inspector General Audits Division will perform a review of emergency economic injury disaster loan grants made to sole proprietorships. The objective is to determine whether the Small Business Administration approved and disbursed emergency economic injury disaster loan grants in accordance with the Coronavirus Aid, Relief, and Economic Security Act and Paycheck Protection Program and Healthcare Act.
Small Business Administration OIG

Inspection of SBA's Implementation of the Paycheck Protection Program

Small Business Administration OIG

Management Alert Paycheck Protection Program Loan Recipients on the Department of Treasury’s Do Not Pay List