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Strategic Objective
Mitigate risk to taxpayers and improve oversight across SBA programs.
Strategic Objective
Overview
Taxpayers, including entrepreneurs and small business owners, expect that their tax dollars are being used wisely. SBA programs give taxpayers a strong “bang for the buck,” and the Agency will continue to find ways to mitigate risk while ensuring that small businesses have access to and fully benefit from its programs. With an outstanding loan portfolio of over $100 billion, oversight of small businesses’ eligibility in tens of billions of government contract set-asides, a network of hundreds of grantee partners delivering counseling and training to over a million clients a year, and direct fiscal responsibility for the annual budget, the SBA has an extraordinary responsibility to taxpayers to mitigate risk and conduct oversight of its programs.
Read Less...Progress Update
The SBA continued efforts to mitigate risk. Regarding lender oversight, the Agency performed 378 analytical risk-based credit reviews which provided oversight of loan performance, credit scores, and compliance with SBA loan program requirements. The SBA conducted a combination of analytical and file assessments and reviewed 66 entrepreneurial development resource partners. The Agency provided these partners with training, classroom instruction, and educational materials to ensure that programs properly use grant funds. The SBA met its HUBZone and 8(a) Business Development review targets and ensured staff received training in order to provide small businesses with a better understanding of program eligibility requirements and compliance reviews. Unfortunately, the SBA continued to be challenged by ineligible HUBZone firms that increase risk for the small business community. Continued monitoring and enforcement will help mitigate risk to the Agency and taxpayers