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SBA loan guarantee program for veteran-owned businesses goes unevaluated

September 23, 2013 By ei2admin

A loan-guarantee program for veterans that began in 2007 is the latest Small  Business Administration pilot program that the agency has neglected to  evaluate.

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 

Filed Under: Contracting News Tagged With: default, GAO, loans, Patriot Express, SBA, veteran owned business, VOSB

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