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Diane Publishing Books
Audit of SBA’s Administration of the Supplemental Terrorist Activity Relief Loan Program
Barry Leonard (ed)
The terrorist attacks of 9/11 disrupted the economy of the U.S. In response to concerns about the impact of these terrorist attacks on small bus., Congress authorized the SBA to guaranty up to $4.5 billion in loans made by lenders to small bus. “adversely affected” by the terrorist attacks & their aftermath. These loans were designated by SBA as Supplemental Terrorist Activity Relief (STAR) loans. Concerns were raised about whether STAR loans were made to borrowers that were not affected by the 9/11 terrorist attacks. The objectives of the audit were to determine if STAR loan recipients were appropriately qualified to receive STAR loans & if SBA established & implemented proper administrative procedures to verify STAR loan recipient eligibility.
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