- Washington Free Beacon - https://freebeacon.com -

Former DOE loan director at Abound hearing: We’re ‘proud’ of the loan program

Jonathan Silver, the former director of the Department of Energy's loan office, said Wednesday he is "proud" of the program and called it a success on the whole, during hearings about Abound Solar, the now bankrupt recipient of DOE loans.

JONATHAN SILVER: We are proud of the program and on the whole the loan program has been a success, while acknowledging the inevitable and expected losses.

Abound was awarded $400 million in loan guarantees; the company received only $70 million after the department halted further disbursements in September 2011.