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Friday, February 10, 2012

SBA's Outdated Loan Management Systems

House Examines SBA's Outdated Loan Management Systems
Rep. Nydia M. Velazquez (D-NY), the Ranking Democrat on the House Committee on Small Business said, "When the SBA's loan management systems were first developed in the 1970s, they were state-of-the-art. Although it has been more than forty years since then, many of these "Legacy Systems" are still in service. Today, they manage more than $90 billion in credit, investments, and loan guarantees - far more than when they were first put in place. As they have grown more obsolete, the SBA has founding it increasingly more difficult to maintain data integrity, keep information secure, and accurately account for loans. Although SBA has pursued various efforts to upgrade and modernize the Legacy Systems, these efforts have met with minimal success… keep reading about Small Business Lending

 

Commercial Capital continues to provide small businesses with SBA Loans via the SBA 7a, SBA 504 and SBA 504 Refinancing Loans. We are direct lenders for SBA 504 loans and provide a wide array of financing programs for small businesses and commercial loans for the acquisition and refinance of commercial real estate.

 

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Visit us at http://CommercialLendingPros.com for more information or submit a loan scenario for pre-approval at http://www.CommercialLendingPros.com/102/325

 

Commercial Lending Pros
Commercial Capital Limited

Florida Real Estate & Commercial Loans, Inc.

Tel: 863-299-2929
Fax: 863-877-4456
Email: loans@commerciallendingpros.com
Website: www.CommercialLendingPros.com
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2 comments:

Mark C. Houchens said...

Great post

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