U.S. Doesn’t Track if Millions in Biz “Loans” to Refugees on Public Assistance Are Repaid

The U.S. government gives refugees on public assistance special “loans” of up to $15,000 to start a business but fails to keep track of defaults that could translate into huge losses for American taxpayers, records obtained by Judicial Watch reveal. The cash is distributed through a program called Microenterprise Development run by the Department of Health and Human Services (HHS) Office of Refugee Resettlement.

Since 2010 the program has granted thousands of loans to refugees that lack the financial resources, credit history or personal assets to qualify for business loans from commercial banks. Most if not all the recipients already get assistance or subsidies from the government, according to the qualification guidelines set by the Microenterprise Development Program. It’s a risky operation that blindly gives public funds to poor foreign nationals with no roots in the U.S. and there’s no follow up to assure the cash is paid back. The idea behind it is to “equip refugees with the skills they need to become successful entrepreneurs” by helping them expand or maintain their own business and become financially independent.

Earlier this year, Judicial Watch submitted a Freedom of Information Act (FOIA) request to HHS for records related to the refugee business loan program. Specifically, JW asked for the number of loans that are written off per year and the amount of the write-off per defaulted loan. Unlike commercial banks or other lending institutions, HHS doesn’t keep track of default rates on loans issued through the Microenterprise program. This is astonishing considering that these are taxpayer dollars being furnished in the form of loans to foreign nationals granted refuge in the United States. An HHS official told JW the agency doesn’t have a tracking system in place to provide figures involving loan defaults. However, the agency is “preparing to collect this information in the future,” according to the records obtained by JW from the agency.

What we do know is that from 2010 to 2015, HHS gave

http://www.judicialwatch.org/blog/2016/06/u-s-doesnt-track-millions...

Views: 316

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post

The 100 Series Designated for SAC and a Possible WWIII

 The “100 Series” as these fighter aircraft were labeled were a succession of Mach II capable…See More
54 minutes ago
tjdavis posted a video

Human Be-In - Full Program - 1/14/1967 - Polo Fields, Golden Gate Park (Official)

Human Be-In - Full ProgramRecorded Live: 1/14/1967 - Polo Fields, Golden Gate Park - San Francisco, CAMore Human Be-In at Music Vault: http://www.musicvault....
18 hours ago
Less Prone favorited Doc Vega's blog post How Hollywood Sci Fi Predicted the Future?
yesterday
Doc Vega posted blog posts
Thursday
Less Prone commented on Doc Vega's blog post Your Arrival on Planet Earth
"So sad to see a nice place be ruined by its inhabitants.... It's that shitholeness spreading…"
Thursday
Doc Vega commented on tjdavis's blog post Under An Ionized Sky
"Jesus Christ this is more diabolical than just about anything I've studied even though I knew…"
Thursday
Doc Vega commented on Doc Vega's blog post Your Arrival on Planet Earth
"Less Prone Nothing wrong with the planet. It's the inhabitants who are the problem."
Thursday
tjdavis's 2 blog posts were featured
Thursday
Doc Vega's 5 blog posts were featured
Thursday
Less Prone commented on Doc Vega's blog post Your Arrival on Planet Earth
"That assignment on the blue planet intrigued me a lot. And here we are now! I cannot say it's…"
Thursday
Less Prone favorited Doc Vega's blog post Your Arrival on Planet Earth
Thursday
Burbia's blog post was featured

Sebastion Piñera and 5G

 Sebastion Piñera “The start of the bidding process for the 5G network. Let’s listen to the threats…See More
Thursday
tjdavis favorited Burbia's video
Thursday
tjdavis favorited Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
Thursday
tjdavis posted a blog post
Thursday
tjdavis posted videos
Wednesday
Doc Vega posted blog posts
Tuesday
Doc Vega commented on Doc Vega's blog post To Each and every One of you here Happy Thanksgiving
"cheeki kea that was damn funny and cute. Always appreciate your insights and memes! Wish I had a…"
Tuesday
Ray99kibz left a comment for Less Prone
"Thanks I am glad to be here."
Monday
alux junes posted a status
"??"
Monday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted