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I look forward to the new challenges I face as the Inspector General and am greatly impressed with the accomplishments of this OIG* The OIG issued 20 reports with recommendations for improving Agency operations reducing fraud and unnecessary losses and recovering funds. OIG investigations led to 23 indictments and 13 convictions of subjects who defrauded the Federal Government. During this reporting period an increasing amount of the OIG s audit and investigations work was directed toward th ...

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is it easy to get approved for SBA?

In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet SBA size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding.

What happens to SBA loan if business closes down?

If your business closes next week, youre personally liable for the debt. EIDLs are not forgivable. Youll repay them over the 30-year term, though you can pay your loan off early with no prepayment penalties.

Is SBA loan information public?

The Freedom of Information Act gives you the right to request access to SBA information and records.

How do I access my SBA loan documents?

Existing borrowers can use the MySBA Loan Portal (lending.sba.gov) to make payments and view loan documents on the following loan types: All SBA disaster loans including COVID-19 EIDL and physical loss loans. Paycheck Protection Program (PPP) loans (payments only available for guaranty-purchased loans)

What is SBA SOP 50 10?

SOP 50 10 contains SBAs loan origination policies and procedures governing the 7(a) and 504 loan programs.

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