WASHINGTON - Bankers Systems is working with the Small Business Administration to develop an integrated connectivity from the company's SBA lending software, Tsoft SBA FormMaster+, to the SBA's loan origination system. E-Tran, the SBA's direct Internet connection to its loan origination system, will rely on predefined, open data standards to electronically transmit data from Bankers Systems' SBA lending software by clicking a button. This integrated connectivity is expected to help SBA lenders significantly increase their operating efficiency, simplify their workflow, lower their costs, and improve their speed to market. Bankers Systems will be the first provider in the SBA lending marketplace to take advantage of E-Tran through the company's proprietary software. Under the current system, lenders originating SBA loans must use a labor and time intensive manual process to submit customer application data to the SBA. Lenders print the necessary forms that include the required data and then fax them to the SBA. The response time from the SBA with the approval and loan number can take days or weeks. Then, once a response is received, lenders must also enter the loan number in to the application forms on their systems and then print the forms again for the borrower to sign. Using the SBA's E-Tran, lenders will enter customer application data in to TSoft SBA FormMaster+ and then connect to E-Tran through a direct, secure Internet connection. After submitting the required data, lenders will receive an Extensible Markup Language (XMLT) response message with the requested loan number in a matter of seconds or minutes.
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