A top official at the Small Business Administration said previous changes in processes and operations allowed the agency to resume work immediately after the 35-day government shutdown, Federal News Network reported Tuesday.
William Manger, associate administrator of SBA’s Office of Capital Access, said the process improvements placed by the agency’s head Linda McMahon “greatly enhanced” their ability to get back to business. Manger made the remarks during a meeting with House Small Business Subcommittee on Investigations, Oversight and Regulations on Tuesday.
In late 2018, the SBA reduced the time to process and approve loan applications and stopped operations of its central service system during the government shutdown to limit the loans in queue. Both efforts allowed SBA to resume operations without any backlog of loan applications after the shutdown, Manger said.
Since reopening on Jan. 28, the agency approved nearly 8,000 loans and released a total of $3.7B. SBA said it also remains on schedule to implement changes in its Office of Credit Risk Management as required in the Small Business 7(a) Lending Oversight Reform Act of 2018. The law seeks to change OCRM’s supervisory duties by June.