Fund’s Loans Under Scrutiny After Exec Indicted

Law360, New York (January 29, 2007, 12:00 AM EST) -- The Small Business Administration has launched a thorough review of loans made by Business Loan Express LLC after a former senior executive was indicted on criminal charges.

Business Loan, with headquarters in New York, plans to stop reselling loans in the secondary market as part of the investigation, but this decision could prevent it from making future loans.

The review comes after former Business Loan executive Patrick Harrington was indicted by a district court in Michigan, alleging that he and others swindled the SBA out of...
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