Page:United States Statutes at Large Volume 111 Part 3.djvu/519

 PUBLIC LAW 105-135—DEC. 2, 1997 111 STAT. 2607 (1) SUBMISSION.— Not later than 6 months after the date Reports. of enactment of this Act, the Administrator shall submit to the Committees a report on action taken and planned for future reliance on private sector lender resources to originate, approve, close, service, liquidate, foreclose, and litigate loans made under section 7(a) of the Small Business Act. (2) CONTENTS.— The report under this subsection shall address administrative and other steps necessary to achieve the results described in paragraph (1), including— (A) streamlining the process for approving lenders and standardizing requirements; (B) establishing uniform reporting requirements using on-line automated capabilities to the maximum extent feasible; (C) reducing paperwork through automation, simplified forms, or incorporation of lender's forms; (D) providing uniform standards for approval, closing, servicing, foreclosure, and liquidation; (E) promulgating new regulations or amending existing ones; (F) establishing a timetable for implementing the plan for reliance on private sector lenders; (G) implementing organizational changes at SBA; and (H) estimating the annual savings that would occur as a result of implementation, (b) CONSULTATION. — In preparing the report under subsection (a), the Administrator shall consult with, among others— (1) borrowers and lenders under section 7(a) of the Small Business Act; (2) small businesses that are potential program participants under section 7(a) of the Small Business Act; (3) financial institutions that are potential program lenders under section 7(a) of the Small Business Act; and (4) representative industry associations. SEC. 233. COMPLETION OF PLANNING FOR LOAN MONITORING SYS- 15 USC 633 note. TEM. (a) IN GENERAL.— The Administrator shall perform and complete the planning needed to serve as the basis for funding the development and implementation of the computerized loan monitoring system, including— (1) fully defining the system requirement using on-line, automated capabilities to the extent feasible; (2) identifying all data inputs and outputs necessary for timely report generation; (3) benchmark loan monitoring business processes and systems against comparable industry processes and, if appropriate, simplify or redefine work processes based on these benchmarks; (4) determine data quality standards and control systems for ensuring information accuracy; (5) identify an acquisition strategy and work increments to completion; (6) analyze the benefits and costs of alternatives and use to demonstrate the advantage of the final project; (7) ensure that the proposed information system is consistent with the agency's information architecture; and

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