Graves Examines SBA’s Outdated Loan Management Systems
“The fact that the SBA began the modernization process almost seven years ago and has received millions in funding, but continues to mismanage the updating process is completely unacceptable.”
WASHINGTON, DC— House Small Business Committee Chairman Sam Graves (R-MO) today held a full committee hearing to examine the Small Business Administration’s (SBA) outdated computer systems used to manage its lending programs. Given the ongoing problems plaguing the systems, Chairman Graves requested in October 2010 that the Government Accountability Office (GAO) review the modernization efforts. This hearing was a follow-up to that request.
“With a lending program portfolio that exceeds $80 billion, the SBA should be able to manage its information technology in a way that does not waste or risk taxpayer dollars and ensure that it can obtain accurate information on its loans. The fact that they began the modernization process almost seven years ago and have received millions in funding, but continue to mismanage the updating process is completely unacceptable.
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