Small Business Administration

The Small Business Administration (SBA) has received $69 million for a variety of new programs, including $20 million for improving, streamlining and automating the information technology systems that are related to lender processes and oversight of the agency’s microloan program. 

The agency is renewing and expanding critical parts of its information technology platform in order to support larger and faster communications with SBA’s lending partners and speed up the delivery of funds to small businesses.

Under the plan, lenders and small businesses would get one-stop support by phone or Internet from a new, integrated call center and Web portal backed by an SBA-wide customer relationship management database. SBA is hoping that the enhanced technology will give lenders quicker responses with a secure state-of-the-art telecommunications infrastructure connecting SBA’s processing centers. At the same time, SBA expects that its decision-making will be improved with upgraded business intelligence technology and credit risk analysis aligned with the best practices in the financial industry. 

For more information, please click here.