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 <subject>Small business loans</subject>
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 <title>Major Management Challenges and Program Risks: Small</title>
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<abstract>This report, part of GAO&apos;s high risk series, discusses the major
management challenges and program risks facing the Small Business
Administration (SBA). SBA has taken steps to address several challenges
that affect its ability to provide quality service. However, numerous
weaknesses remain that must be addressed. For example, SBA needs to
strengthen its oversight of its lending partners to decrease the
potential for waste, fraud, and abuse. SBA must also focus its 8(a)
business development program on issues that concern 8(a) small
businesses, such as obtaining government contracts. Additionally, SBA
should revise its disaster loan processing procedures so that claims are
processed in a timely manner.</abstract>
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