Changes

While their efforts since the 1999 and the 2004 GAO report are to be commended, the SBA still has incomplete and inaccurate loan agent discourse data. A September 2015 OIG report found these inaccuracies are likely to hinder oversight efforts. The SBA claims that their progress in implementing a robust loan agent registration and monitoring system has been limited by their lack a statutory authority to collect personal information from loan agents that would uniquely identify them. The SBA only began recording and tracking loan agent information in a searchable format in 2010. Many of the suggestions in the 2015 OIG report mirror or at a minimum are related to those from the 2004 GAO report, demonstrating a lack of progress on the part of the SBA in implementing adequate lender and loan oversight practices. [https://www.sba.gov/sites/default/file/oig/Report_15-16_SBA_Needs_to_Improve_Its_Oversight_of_Loan_Agents.pdf].