Loren Data's SAM Daily™

SAMDAILY.US - ISSUE OF OCTOBER 27, 2022 SAM #7636
SPECIAL NOTICE

D -- Limited Sources Justification for PPP and Loan Compliance Tech Solution

Notice Date

10/25/2022 5:38:08 PM
 

Notice Type

Justification
 

NAICS

541611 — Administrative Management and General Management Consulting Services
 

Contracting Office

OFC OF PERF MGMT AND CFO WASHINGTON DC 20416 USA
 

ZIP Code

20416
 

Solicitation Number

73351020F0241
 

Archive Date

11/25/2022
 

Point of Contact

Laura Saddison
 

E-Mail Address

laura.saddison@sba.gov
(laura.saddison@sba.gov)
 

Award Number

73351020F0241
 

Award Date

10/15/2022
 

Description

In response to the COVID-19 global pandemic, the U.S. Congress passed the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act, which established the Paycheck Protection Program (PPP) to provide economic relief to small businesses. The first phase of the PPP established funding of $349B and was fully utilized within 14 days. With subsequent legislation, Congress approved an additional $601B in PPP funding and extended the program through May 31, 2021. At of the end of May 2021, over 11.8 million PPP loans were approved by over 5,300 lenders for a total value of close to $800B. Due to the exceptional volume of lending and extension of the program to May 2021, OCRM is still in need of additional support to monitor risk of the PPP portfolio at the loan and lender level. The department is responsible for lender oversight and risk management of the PPP program, including lender compliance assessments, conducting due diligence to ensure taxpayer dollars are protected, and monitoring overall portfolio risk. Oversight is imperative as a lack of compliance may result in additional cost to the taxpayer, harm to the borrowers, and reputational risk for the Agency. These tasks are ongoing since implementation of the PPP. ��
 

Web Link

SAM.gov Permalink
(https://sam.gov/opp/d6af32b340704d48a86b9d901e9b6cab/view)
 

Place of Performance

Address: Washington, DC 20416, USA

Zip Code: 20416

Country: USA
 

Record

SN06501867-F 20221027/221025230057 (samdaily.us)
 

Source

SAM.gov Link to This Notice
(may not be valid after Archive Date)

---

| FSG Index  |  This Issue's Index  |  Today's SAM Daily Index Page |