The U.S. Small Business Administration needs to take additional steps to reform its disaster loan program and improve the application process, recommends a new report.

The report by the Government Accountability Office was presented at a hearing of the House Committee on Small Business. GAO financial markets and community investment director William Shear noted that after a series of disasters in recent years such as Hurricanes Katrina, Wilma and Rita, the SBA was criticized for what was perceived to be a slow and confusing response and a significant backlog of applications for disaster loans.

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