Hurricane Katina brought light to the current SBA system. It exposed many problems including being able to process loan applications quickly. The SBA requested a $12.2 million increase to help build the new loan management and accounting system. The new project would cost $16.8 million and take many years to complete, but would improve oversight of SBA’s $85 billion in loans and loan guarantees.
SBA Looking to Improve Loan-Processing System
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