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Report File
Title Full
The Office of Inspector General is issuing this management advisory to gain an understanding of the U.S. Small Business Administration’s (SBA) Coronavirus Disease 2019 (COVID-19) servicing processes and determine its capability to service more than 2 million COVID-19 Economic Injury Disaster Loans (EIDL).
Date Issued
Submitting OIG
Small Business Administration OIG
Agencies Reviewed/Investigated
Small Business Administration
Report Number
25-16
Report Description

The Office of Inspector General is issuing this management advisory to gain an understanding of the U.S. Small Business Administration’s (SBA) Coronavirus Disease 2019 (COVID-19) servicing processes and determine its capability to service more than 2 million COVID-19 Economic Injury Disaster Loans (EIDL).

We found the COVID-19 EIDL Servicing Center (CESC) demonstrated that it was capable of servicing over 2 million COVID EIDLs during the period of our review. The CESC appeared to be adequately staffed as evidenced by its ability to complete over 23,500 servicing actions per month with an average processing time of 5.44 days per action. However, we identified opportunities for improvement related to formal documentation and issuance of performance goals and written COVID-19 EIDL servicing guidance.

We made two recommendations for SBA to ensure appropriate processes are followed and to effectively monitor CESC operations. SBA management agreed with both recommendations and has taken actions to implement both. Management’s actions satisfy the intent of the recommendations; therefore, both recommendations will be closed upon issuance of this report.

Report Type
Audit
Special Projects
Pandemic
Agency Wide
Yes
Questioned Costs
$0
Funds for Better Use
$0
Report updated under NDAA 5274
No

Open Recommendations

This report has 2 open recommendations.
Recommendation Number Significant Recommendation Recommended Questioned Costs Recommended Funds for Better Use Additional Details
1 Yes $0 $0

Finalize and approve procedures and standards included in the Draft COVID EIDL Servicing Manual.

2 Yes $0 $0

Publish and communicate written overall CESC performance goals for effective monitoring of its operations in coordination with SBA’s Office of Financial Program Operations.

Small Business Administration OIG

United States