Brillient has been awarded a potential $125 million task order by the Small Business Administration to provide surge support for loan processing and disbursement functions for SBA's disaster loan program, the company announced Thursday.
"Brillient has been a partner to the SBA since 2008. We are pleased to answer the call to arms to help small businesses in the midst of this unprecedented crisis," said Sukumar Iyer, founder and executive chairman of Brillient.
Under the new order, Brillient will add approximately 500 loan processing professionals to support all U.S. states and territories, six days a week, as a response to the COVID-19 pandemic. The outbreak was officially proclaimed a national emergency on March 13.
To combat the effects of the pandemic, the Office of Disaster Assistance (ODA) at the SBA, has provided victims of the pandemic access to low interest loans to allow the borrowers to resume their normal lives and operations as soon as possible in lieu of the pandemic.
Additional funds were recently made available to the SBA across its various loan programs by Congress under the passage of the Coronavirus Aid, Relief, and Economic Security Act to support businesses during this time of economic challenge resulting from the pandemic crisis.
The SBA also launched the $349 billion Paycheck Protection Program, an emergency loan program created with the President's signing of the CARES Act in April 2020. The program will provide forgivable loans up to $10 million to small businesses left financially distressed by the pandemic.
The loans will be administered at the local level by a national network of banks and credit unions and are designed to maintain the viability of millions of small businesses struggling to meet payroll and day-to-day operating expenses.
"We are honored to assist the SBA and the United States small business community to help cope with this national, economic crisis," said Paul Strasser, CEO of Brillient.
Brillient is a fast-growing solutions engineering company with 14 years of experience providing information management, intelligent solutions and business process management services.
Brillient has supported 22 federal government clients and employs 1,000+ personnel in 17 states. The company was recognized as the 2017 DHS Small Business of the Year and maintains ISO 9001:2015, ISO 20000-1:2011, ISO 27001:2013, and SEI CMMI Level 3 quality certifications.