Financial Management: Emergency Steel Loan Guarantee Program
Abstract
In a February 1, 2001 letter, you expressed concerns about repayments of federally guaranteed loans by borrowers under the Emergency Steel Loan Guarantee Program and the effect of the program on the U.S. steel industry. As agreed with your office, we conducted a financial analysis of the program and an economic analysis of factors relevant to the U.S. steel industry. Our financial analysis covered program background; the status of program funding; loan guarantees applied for, approved, and disbursed; the federal government s maximum potential loss for the program; the financial condition of approved borrowers; and factors that affect the borrowers ability to repay loans on time. Our economic analysis considered general factors that influence steel industry production, capacity, consumption, pricing, and international trade, as well as specific factors relating to the program. Our work was conducted in March and April 2001 in accordance with U.S. generally accepted government auditing standards.
Document Details
- Document Type
- Technical Report
- Publication Date
- May 25, 2001
- Accession Number
- ADA390452
Entities
Organizations
- United States Government Accountability Office