IAI Supports Successful SBA Loan Program Technology Modernization Effort
FAIRFAX, Va., May 24, 2018 (GLOBE NEWSWIRE) -- Information Analysis Incorporated (OTC:IAIC), a publicly-traded information technology services company, is pleased to announce that it has achieved yet another successful implementation under its legacy system modernization practice. As a subcontractor and project team member to a large management and technology consulting firm, IAI was tasked to provide services for modernizing the Small Business Administration (SBA) loan management systems. This mission-critical effort spanned multiple organizations operating across various work streams.
The goal was to re-platform the SBA Mainframe loan servicing application to a distributed environment running an Oracle database on a UNIX platform. As a key team member, IAI was primarily responsible for the migration of the source code and transformation of the on-line portion to an SBA standard platform. IAI also utilized its proprietary ICONS toolset in the effort.
The National Association of Development Companies (NADCO) recently congratulated the Small Business Administration (SBA) Office of Performance and Systems Management on completing this modernization, which lays the groundwork for future modernization of SBA’s loan programs. This migration marked the completion of a second major step in SBA's long-term strategy to streamline processes for small business borrowers and the nation's Certified Development Companies (CDCs). NADCO’s press release may be viewed at http://www.infoa.com/wp-content/uploads/2018/05/PR_NADCO_SBA_180518.pdf
About Information Analysis Incorporated
Information Analysis Incorporated (www.infoa.com), headquartered in Fairfax, Virginia, is an information technology product and services company. The Company is a web application and e-business solutions provider, as well as a software conversion specialist, modernizing legacy systems and extending their reach to the internet and more modern platforms.
Additional information for investors
This release may contain forward-looking statements regarding the Information Analysis Incorporated’s business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. These include the failure to obtain sufficient contracts, and to profitably complete those contracts. Investors should read and understand the risk factors detailed in IAI’s 10-K for the fiscal year ended December 31, 2017 and 2016 and in other filings with the Securities and Exchange Commission.
For additional information contact:
IAI - Stan Reese - COO (703) 293-7935
Released May 24, 2018
