RER Solutions has secured a $300 million contract to help the Small Business Administration to determine small business loan recipients during the COVID-19 pandemic, Bloomberg Government reported Wednesday.
The CARES Act federal stimulus package includes $349 billion in loans for smaller companies impacted by the coronavirus crisis and its economic effects, while lawmakers are seeking an additional $450 billion relief for such enterprises, the report noted.
SBA awarded the Herndon, Va.-based company a separate $50 million contract in late March to analyze data and provide recommendations to the agency’s loan program.
RER Solutions has developed a longstanding relationship with the agency. In December 2018, the company won a potential five-year, $100 million contract to support the SBA’s Office of Disaster Assistance in reviewing loan applications from homeowners, renters, businesses and nonprofits through the Disaster Credit Management System.