SBA Orders All 8(a) Participants to Provide Financial Records

“There is mounting evidence that the 8(a) Program designed for ‘socially and economically disadvantaged’ businesses went from being a targeted program to a pass-through vehicle for rampant abuse and fraud – especially during the Biden Administration, which aggressively prioritized DEI over merit in federal contracting,” said SBA Administrator Kelly Loeffler. “Today, as part of the SBA’s effort to protect taxpayer dollars and restore program integrity, we’re requiring all 8(a) firms to provide basic financial documentation for SBA review. As our previously-announced government-wide audit continues, we’re committed to thoroughly reviewing every federal contract, contracting officer, and contractor – while working alongside federal law enforcement and other agencies to deliver accountability for taxpayers."

More information can be found here.