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The SBA’s Office of Inspector General has confirmed it is reviewing a sample of 300 American Recovery and Reinvestment Act loans as a usual oversight measure and not because those loans have a tendency for a higher number of defaults.

Glenn Harris, counsel to the SBA OIG, confirmed to Credit Union Times that since April, the office has looked at about 300 loans, including Recovery Act 7(a) loans using the 90% guaranty and those with fees waived as well as America’s Recovery Capital loans. Harris said the findings of the loans will not be discussed until the OIG issues its reports. He did not provide a date of publication.

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