Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
State Small Business Credit Initiative: North Carolina's Use of Federal Funds for Capital Access and Other Credit Support Programs

State Small Business Credit Initiative: North Carolina's Use of Federal Funds for Capital Access and Other Credit Support Programs

Office of the Inspector General Departme

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ISBN10: 1505264782
ISBN13: 9781505264784
Publisher: Createspace
Published: Jan 3 2015
Pages: 36
Weight: 0.24
Height: 0.07 Width: 8.50 Depth: 11.02
Language: English
We determined that North Carolina appropriately used most of the $4.9 million in SSBCI funds obligated or expended that we tested, but contributed $6,690 to a reserve fund under the Capital Access Program for a loan that refinanced one previously made to the borrower by the same lender. Such refinancings are prohibited by the Act and constitute a misuse of funds. Prior to the transfer of SSBCI funds, North Carolina collected two separate documents from the lender attesting that the loan being enrolled was not made for a prohibited purpose.

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