{
"item_title" : "State Small Business Credit Initiative",
"item_author" : [" Office of Inspector General "],
"item_description" : "We determined that Idaho appropriately used the $9.6 million in SSBCI funds that we tested. However, $1.3 million10 financed bridge loans to businesses approved for Small Business Administration (SBA) CDC/504 loan program. Because the SSBCI-supported loans provided interim financing until the SBA loans could be secured, the transactions were permissible under SSBCI Policy Guidelines. However, Treasury's reporting of estimated jobs created or retained as a result of the interim SSBCI loans may duplicate data reported by the SBA loan program.",
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State Small Business Credit Initiative : Idaho's Use of Federal Funds for its Collateral Support Program
Overview
We determined that Idaho appropriately used the $9.6 million in SSBCI funds that we tested. However, $1.3 million10 financed bridge loans to businesses approved for Small Business Administration (SBA) CDC/504 loan program. Because the SSBCI-supported loans provided interim financing until the SBA loans could be secured, the transactions were permissible under SSBCI Policy Guidelines. However, Treasury's reporting of estimated jobs created or retained as a result of the interim SSBCI loans may duplicate data reported by the SBA loan program.
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Details
- ISBN-13: 9781503376632
- ISBN-10: 150337663X
- Publisher: Createspace Independent Publishing Platform
- Publish Date: January 2015
- Dimensions: 11.02 x 8.5 x 0.05 inches
- Shipping Weight: 0.19 pounds
- Page Count: 26
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