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OIG Says SBA Management of EIDL Program Had Contracting Flaws
The Compact Business Administration (SBA) didn’t follow good processes whilst running Financial Effect Catastrophe Financial loan funds throughout the pandemic, according to a report from the Business office of the Lawyer Normal (OIG). Here’s in which the SBA erred, according to the OIG report: The contractor awarded the EIDL contract in 2018, RER, achieved the contract-needed modest business enterprise measurement conventional (no much more than $15 million in yearly revenue) but its subcontractor (Rocket Loans) did not. That contract ongoing as a result of the pandemic. The SBA did not use processes to make certain its contracting officers utilised helpful proposal evaluation procedures to make sure rates were honest and…