Paycheck Protection Program application Source: Shutterstock.

The Government Accountability Office warned the Small Business Administration six years ago that its loan servicing system could not handle a large volume of loans – similar to those processed during the past several months under the Paycheck Protection Program – a House subcommittee chairman charged Thursday.

“(The) SBA’s legacy technology systems were not fully equipped to handle the unprecedented level of applicants, resulting in a number of technical issues with the implementation,” Jason Crow (D-Colo.), chairman of the House Innovation and Workforce Development Subcommittee, said in a memo prepared for a subcommittee hearing Thursday.

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