United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2001-05-25 monographic deposited born digital 27 p. GA 1.13:GAO-01-714R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-714R P0b002ee18038ff62 f:d01714r DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-01-714R machine generated eng fdlp REPORT GAOREPORTS-GAO-01-714R GAO-01-714R Financial management Government guaranteed loans Steel industry Loan repayments Emergency Steel Loan Guarantee Program Correspondence A01067 This report discusses the Emergency Steel Loan Program. GAO found that there has been only one guaranteed loan disbursed by a private lender for $110 million. With an 85 percent guarantee, the federal government's potential loss is $93.5 million, assuming no repayments and no recovery from property pledged as collateral. The financial condition of program applicants is not strong and repayments of loans depend upon many future factors. Economic analysis noted a flat demand for steel, moderate prices, and static imports of foreign steel forecasted for 2002 and 2003. Due to the low loan amount, the program through March 31, 2001, has had a minimal overall effect on the U.S. steel industry. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-714R/html/GAOREPORTS-GAO-01-714R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-714R/pdf/GAOREPORTS-GAO-01-714R.pdf GAO-01-714R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-714R Correspondence GAO-01-714R; Financial Management: Emergency Steel Loan Guarantee Program; Financial management Government guaranteed loans Steel industry Loan repayments Emergency Steel Loan Guarantee Program Public Law 106-51