“The Coronavirus (COVID-19) outbreak in the United States has been proclaimed a national emergency, beginning March 13, 2020. Additional funds were recently made available to the SBA across its various loan programs by Congress under the passage of the CARES Act. These funds will support businesses during this time of economic challenge resulting from the pandemic crisis and have caused a large increase in the loan processing workload.”
“The Office of Disaster Assistance (ODA), SBA, provides victims of natural disasters in the United States (including Puerto Rico and other US possessions) with access to low interest loans. The goal of the program is to allow the borrowers to resume their normal lives and/or operations as soon as possible in the aftermath of disasters.”
“Brillient Corporation has been called upon to provide surge support for loan processing and disbursement functions for SBA’s disaster loan program. This work was authorized under a new order valued at up to approximately $125 million total for the base and all option periods. Brillient will add about 500 loan processing professionals providing support to all US States and Territories, 6 days a week.” Read the full press release here.
Source: Brillient Called on by SBA With Contract for Loan Processing Surge – May 21, 2020. Brillient.