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accounted Acting action actuarial studies addition adequately Administrator agreed already amount analysis APPENDIX application approved assumptions average building capital cash Central Office appraiser CHAPTER chart Chief condition Congress considered continue correct cost cover default payments designed determine direct discussed district office economic estimated evaluating existing expected expenses experience facilities factors fiscal year 1974 further future guaranteed rent included income increased interest issued through fiscal January June 30 land landlord lease guarantee program lease payments limited major March ments method million month monthly ness operated orders paid percent policies issued poor judgment position potential premium present problems projected losses proposed ranged rates re-rentability reasonable received recommended regional rejected rent rental reserves result reviewed risk SBA officials SBA's SBA's Central Office SBA's risk-analysis system self-sustaining shown Small Business special-purpose statements substantial success tenant underwriter values
Page 23 - Small businesses which are unable to lease desirable space at a reasonable cost without assistance by nature represent higher-than-average risks. However, when a business does not have a reasonable chance of success, assistance by SBA benefits neither the small businessman nor the Government.
Page 1 - SBA to fix a uniform premium using sound actuarial practices. The portion charged to cover default payments cannot exceed 2.5 percent of the total rent guaranteed over the life of the lease.
Page 4 - SBA has not monitored the program's financial condition to see if it is self-sustaining. Further, the actuarial studies that premium rates are based on have not been updated since January l97l, even though some assumptions used in the studies have proven incorrect.
Page 11 - SBA told the Subcommittee on SBA Oversight and Minority Enterprise, House Committee on Small Business, that: — Most SBA lease guarantees are for special-purpose properties, instead of the general-purpose properties envisioned by the Congress.