SRA plans a new disaster loan system

SRA plans a new disaster loan system

The Small Business Administration this week hired SRA International Inc. of Fairfax, Va., to combine at least three disparate disaster credit management systems into one Web-interfaced system. SBA awarded the 18-month contract, worth up to $9.8 million, through the General Services Administration's Millennia Lite governmentwide acquisition contract.

SBA now runs separate systems for loan tracking, origination and closing, but they need to interact with Federal Emergency Management Agency and other systems, said Herb Mitchell, associate administrator in the SBA Disaster Assistance Office.

'This would give us virtual loan processing no matter where the disaster occurs,' Mitchell said. 'No longer would we have to travel to sites to assist processing, and this will save us money and time.'

SRA will assist SBA in evaluating and implementing hardware and software. It also will help SBA create an online loan application and processing system with workflow and electronic file management.

SBA wants the system online by June 2004. Mitchell said he expects it to raise productivity by about 25 percent over the current seven- to 21-day time frame for processing disaster loans.

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