IAI Plays Critical Role in Modernization of SBA 7(a) Loan Program

IAI announced that the modernization of the Fiscal Transfer Agent of the US Small Business Administration (“SBA”) 7(a) Loan Program and Secondary Market project on which IAI has been a critical team member for over a year has begun operating. The newly modernized system will allow the FTA program through its partners to better perform loan servicing, technology modernization, and financial services for SBA’s loan programs, which have grown to over 7,500 lenders and nearly one trillion in assets. The 7(a) loan program grew substantially during this modernization process as the Paycheck Protection Program and its constantly evolving guidance is administered under the 7(a) program. IAI was engaged by the prime contractor to join a technology team for the enhancement, transformation, and modernization of the current 7(a) Loan system environment, which includes complex legacy computer systems.  Please see the related press release under the “News” section on this website