The SBA originally planned to evaluate its Patriot Express loan-guarantee program by the end of 2010, but instead extended it through December 2013, a Sept. 12 report from the Government Accountability Office says. With the extension now near its end, the SBA has still yet to evaluate it or make a plan to do so.
In recent years, Patriot Express loans — for businesses majority-owned by veterans and other members of the military community — defaulted at more than three times the rate of other SBA loans.
The GAO report says SBA has not established any measurable goals for the program.
Keep reading this article at: http://www.fiercegovernment.com/story/another-sba-pilot-goes-unevaluated/2013-09-16
Download the GAO report at: http://www.gao.gov/assets/660/657793.pdf
