Knowledge and Insights
Mercadien Serving as Subcontractor on U.S. SBA Awards $13 Million Contract, for Supervised Lenders 7(a) Guaranteed Loan Program
Princeton, NJ and Philadelphia, PA – The Mercadien Group is pleased to announce that it has been awarded through its partner company, Kingstonville, LLC, a $13 Million one-year contract, with four optional years, with the U.S. Small Business Administration (SBA) to provide services in support of the SBA Office of Credit Risk Management (OCRM) Supervised Lenders 7(a) Guaranteed Loan Program.
The contract, effective immediately, is the third consecutive award that Mercadien has participated in. The contract is meant to help ensure the SBA’s Oversight of the Supervised Lenders 7(a) Program is thorough, effective and efficient, by leveraging technology to consistently deliver quality work products, reducing turnaround time, and providing real-time tracking and reporting on lender oversight activities.
Mr. Salvatore Zerilli, CPA, CAMS, a managing director and chair of Financial Institutions Services Group at Mercadien, stated, “Mercadien has been working with the SBA since October 2014. We and our partner companies take pride in the quality and timeliness of our work product. The Office of Credit Risk Management has put their trust in us on the 504 loan program and has now expanded the relationship to the Oversight of the Supervised Lenders 7(a) Program. This award continues to confirm the quality of our team’s performance in assisting banks and financial institutions with numerous, complex regulatory compliance, risk management and technical issues. We are excited to bring our best practices and innovations to this new contract to make it as successful as our 504 loan program contract.”
The Mercadien Group is a family of entities that provides a full spectrum of accounting and advisory services; including traditional audit and financial reporting, tax compliance and planning, compliance oversight, outsourced CFO, transaction advisory, risk assessment, litigation support, management and board consulting; as well as wealth management services. Founded in Princeton in 1963, the firm serves privately-owned companies of nearly every type and industry, as well as financial institutions, nonprofit and human service organizations, government entities, and wealthy individuals and families. Mercadien provides forward-thinking, relationship-driven financial and strategic services that maximize wealth and profitability, minimize taxes and risk, evaluate systems and processes, and increase efficiencies for its many diverse and valued clients. Learn more at Mercadien.com.