SBA not dealing with fraud risks in PPP: GAO

      The GAO is recommending that the SBA take action to address possible fraud in its approvals of guaranteed small business loans under the Paycheck Protection Program, but the SBA has not acted on that advice.

      "We found that the SBA processed over $512 billion in guaranteed small business loans, but isn’t ready to address fraud risks and hasn’t said how it plans to oversee the loans," GAO officials concluded. SBA also spent $2 billion on lender fees.

      SBA "neither agreed nor disagreed" with the GAO's recommendation to begin addressing those risks, the report said, adding that "GAO believes implementation of its recommendation is essential."

      The GAO’s report, dated June 25, covers activities through May 31.

      "SBA moved quickly to establish a new nationwide program, but the pace contributed to confusion and questions about the program and raised program integrity concerns," GAO said.

More information:
GAO Report: https://bit.ly/31uNAHO

CIO-SP3 winners

      The National Institutes of Health’s 'NITAAC' announced it had added 200 small business contractors to the CIO-SP3 Small Business government-wide acquisition vehicle.

      NITAAC officials also made two new contract awards under the CIO-SP3 Small Business 8(a) group.

      The contracts have a performance period from May 11, 2020 through July 14, 2022 with a maximum value of $20 billion.

More information:
Awardee list:https://bit.ly/2AkZE3i

CMMC audit timing

      DOD contractors may be somewhat anxious about whether they can undergo CMMC audits and obtain their certifications in time for upcoming awards. Katie Arrington, CISO for DOD acquisition and sustainment, offered some reassurance recently, according to a SkyCloud report. Arrington said RFPs in Oct./Nov. this year are unlikely to be awarded until 2021. Since CMMC certifications are not required until the time of award, there should be enough time to get audited by then, she said.

Read more:
SpyCloud story: https://bit.ly/2Vxr6Ce

Inside this edition:

Cardin, small contractors push key amendments to FY21 NDAA

Senate panel OK’s NDAA for FY2021

Small biz utilization drops in gov-wide Best-In-Class awards

8(a) STARS II ceiling raised

Judge backs ANCs for aid

Updated Coronavirus Resources for Small Business Federal Contractors

'Main Street' lending set up

NDIA survey

Column: Financing Alternatives for Government Contractors

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