WASHINGTON—The Small Business Administration didn’t follow several congressional mandates in implementing its huge loan program designed to keep businesses afloat during the coronavirus pandemic, including failing to issue guidance to prioritize underserved communities, the agency’s inspector general said in a report Friday. The report focuses on the Paycheck Protection Program—part of a $2 trillion aid package that became law in March—and how well the agency adhered to the law’s provisions.

Source: Wall Street Journal May 08, 2020 20:52 UTC