Most Borrowers of Economic Opportunity Loans Have Not Succeeded in Business

摘要

The report, which was prepared pursuant to Public Law 95-507, discusses the results of the Small Business Administration's Economic Opportunity Loan Program. The report discloses that relatively few borrowers have established lasting businesses and recommends that the Small Business Administration change the way it manages the program and help borrowers overcome their undercapitalization and inexperience. The report also recommends that if program results do not improve, the congressional oversight committees determine whether the program's objectives could be better achieved by transferring its funds to other Federal programs for disadvantaged businesses.