SBA Gets Much Needed Help from Amazon to Speed up Stimulus Funds Processing

The Small Business Administration has been using a system known as E-Tran which was never intended to handle the volume of applications being seen during the crisis; SBA got an assist from Amazon Web Services to develop a new gateway to streamline the applications; the SBA believes this could be a game changer to lenders who were not 7(a) lenders prior to the crisis; “It expedites new lender ability to process loan guarantee requests by providing direct access to E-Tran,” the official said to American Banker; banks have become increasingly frustrated as they have a pipeline of loans they could process but are unable to gain access to the system; “I think a parallel system is a wonderful idea,” said Chris Hurn, CEO of Fountainhead Capital in Lake Mary, Fla., to American Banker. “E-Tran has been very clunky. I was very worried about it. This is a good step.”; after the crisis subsides the changes could end up helping to make the SBA more efficient in the future and bring the department closer to being a fintech. American Banker

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.