Like other agencies, the Small Business Administration is transforming their IT architecture to better support their mission. Bill Manger, associate administrator in the SBA Office of Capital Access, says that they’re now able to deliver small business loans much faster than before.
“With technology and process improvements, we have been able to cut our turn times in half. We now can get a loan turned around in half the time that it took us a mere three years ago,” Manger said. “A large loan that used to take 15 days, we now do that in a week. A small loan, under 350 thousand dollars, that used to take us about 8 days. We can now do that in three.”
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