HIGHLIGHT SUPPORTS SMALL BUSINESS ADMINISTRATION (SBA) IN COVID-19 LOAN EFFORTS
Highlight Technologies (“Highlight”) supports the Small Business Administration (SBA) through the Office of Capital Access (OCA) and the Office of Disaster Assistance (ODA) by providing loan processing services, financial analysis, and administrative support services before and during the coronavirus pandemic.
In March 2020, the coronavirus pandemic created unforeseen and unimaginable challenges for millions of citizens and businesses. Due to the dramatic effects, the CARES Act was passed by the U.S. Congress, in result providing significant relief and resources for small businesses including $349 billion in SBA loan guaranties and additional resources for SBA programs. The CARES Act also provided an expansion of the current SBA 7(a) loan program to support the new Paycheck Protection Program.
Highlight was brought in to support SBA to provide surge support in response to the immediate and mission critical Coronavirus surge needs. Highlight provides full lifecycle loan processing support to SBA ODA to provide economic relief to small business owners, citizens, and non–profits throughout the United States. Highlight supports SBA OCA with dedicated loan servicing professionals to ensure loans are reviewed for forgiveness through the Paycheck Protection Program (PPP). Highlight also supports the SBA’s 504, 7(a) and disaster loan program to work with small businesses and homeowners regarding loans issued by the SBA.
Highlight staff supporting the EIDL surge effort have processed over 1 million loans to small businesses.
“We’re honored to be in a position to use our business platform to fulfill vital services in support of the pandemic response. Our investment in HI-WAY, our best practices for service delivery, enabled Highlight to scale and delivery services rapidly while maintaining quality” said Adam McNair, COO of Highlight.
“I’m so glad that Highlight is part of the recovery effort for small businesses and others affected by the COVID-19 pandemic. It was not long ago that we were a very small business ourselves, so we understand the challenges and uncertainty these businesses face. We are appreciative to the SBA for trusting Highlight to support them in this important mission,” said Rebecca Andino, CEO of Highlight.
About Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 to support small business owners and entrepreneurs. The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.
SBA OCA helps to make capital available to small businesses, through banks and other lending partners, that conventionally would not be able to access credit.
SBA ODA provides low interest, long term loans to repair or replace property and other business assets that have been impacted by a disaster.
About Highlight Technologies
Highlight Technologies (“Highlight”) is an award-winning, employee-owned, ISO® 9001, ISO 20000, ISO 27001, ISO 44001 certified, ISO 56000 certified, CMMI-DEV Level 3, and CMMI-SVC Level 3 appraised federal contractor that provides IT development and transformation, secure IT operations, and mission support services to more than 20 U.S. federal government customers. Our customers include National Security (DHS, State, Army, Navy, DISA, the Joint Staff, DTRA, Intel), Health IT (USAID, USDA, NIH, HRSA, EPA) and Citizen Services (FCC, FDIC, FTC, GSA, HHS, SBA, Education, Labor). For more information, please visit www.highlighttech.com.