Sec. 211. GAO study
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Not later than 2 years after the date of enactment of this Act, the Comptroller General of the United States shall conduct a study and submit to the Administrator, the Committee on Small Business and Entrepreneurship of the Senate, and the Committee on Small Business of the House of Representatives a report that includes— an analysis of the use of alternative credit models for loans made under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) in an amount of less than $350,000, including— an analysis of whether appropriate guardrails are in place to prevent fraud, waste, and abuse and provide protections for the borrower; an evaluation of the effectiveness of those credit models in reducing barriers to access to capital to underserved and rural communities; and recommendations as to whether improvements can be made by Administration in its use of alternative credit models to prevent waste, fraud, and abuse and to improve access to capital to underserved and rural communities; an audit of the operations, staffing, and resources of the Office of Credit Risk Management of the Administration, including the efforts of the Office to implement the new oversight provisions under the amendments made by this title; and a survey of the practices of lenders under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) relating to the use of criminal history when determining whether to approve a loan under that section or a similarly sized commercial loan that is not guaranteed by the Administration.
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U.S. Code