SRA to Support Small Business Administration's New Loan Management and Accounting System Under Blanket Purchase Agreement

FAIRFAX, Va. , Oct. 7 /PRNewswire-FirstCall/ -- SRA International, Inc. (NYSE: SRX), a leading provider of technology and strategic consulting services and solutions to government organizations and commercial clients, today announced that it has been...


FAIRFAX, Va. , Oct. 7 /PRNewswire-FirstCall/ -- SRA International, Inc. (NYSE: SRX), a leading provider of technology and strategic consulting services and solutions to government organizations and commercial clients, today announced that it has been awarded a blanket purchase agreement (BPA) from the Small Business Administration (SBA) to overhaul its Loan Management and Accounting System (LMAS). This program falls under the OMB-mandated Financial Management Line of Business (FMLoB) guidance for acquiring and deploying financial management systems and has a ceiling of $250 million over the 10-year life of the BPA.

Under the BPA, SRA has been awarded three task orders to date, valued at approximately $26 million. With these initial task orders, SRA will host and support SBA's existing Oracle Federal Financial accounting system; execute a pilot using Oracle Loans, Oracle Federal Financials and other Oracle applications, to demonstrate the new solution's ability to meet the requirements of the SBA 7(a) regular loan program; and develop a Deployment Blueprint and detailed plan that articulates the implementation and full deployment of all SBA loan programs, supported by more than 6,000 financial institutions. SBA will use the Blueprint and the detailed plan to incrementally award additional task orders with clearly defined scope, time and cost to implement the solution. This incremental approach allows SBA to fully validate the solution prior to full system deployment and achieve incremental success.

"Loans to small businesses are at the core of SBA's mission, and a critical part of the U.S. economy. SRA understands how critical this program is - especially in the current liquidity crunch," said Max Hall , SRA Civil Sector senior vice president. "This award confirms SRA's commitment and position in the FMLoB and managed services market supporting large-scale, mission-critical programs, and enables SRA to provide SBA with a fully integrated and updated financial management system."

Thousands of business loans are made each year either direct from the SBA or guaranteed through the SBA. SBA's total portfolio is approximately $85 billion. LMAS's objective is to modernize, implement, host and maintain an integrated loan management system that supports full life-cycle (loan origination, loan servicing, liquidation, litigation and purchasing) for all SBA's direct and guarantee loan programs, and an integrated financial management system that supports the financial management/accounting for all the loan programs and SBA's financial reporting.

SRA has several partners for this program, including CGI Federal, Creoal Consulting, Kearney and Company, Oracle Corporation, SAVVIS, SCi and TeraThink Corporation.

About SRA International, Inc.

SRA and its subsidiaries are dedicated to solving complex problems of global significance for government organizations serving the national security, civil government and global health markets. Founded in 1978, the company and its subsidiaries have expertise in such areas as air surveillance and air traffic management; contract research organization (CRO) services; cybersecurity; disaster response planning; enterprise resource planning; environmental strategies; IT systems, infrastructure and managed services; logistics; public health preparedness; strategic management consulting; systems engineering; and wireless integration.

FORTUNE(R) magazine has chosen SRA as one of the "100 Best Companies to Work For" for nine consecutive years. The company and its subsidiaries employ more than 6,400 employees serving clients from headquarters in Fairfax, Va. , and offices around the world. For additional information on SRA, please visit www.sra.com.

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