The SBA has awarded at least $770 million to Herdnon, Va.-based RER Solutions to process loans and grants for small businesses under the agency’s pandemic program, the Economic Injury Disaster Loan, according to federal records.
The lion’s share of that work was then subcontracted to Rocket Loans. A spokesperson for the company declined to say how much it earned in fees for the work. “At a time of great need, our team responded quickly to assist the SBA in overhauling the pre-existing EIDL lending platform, which allowed the administration to process an extraordinary influx of applications,” the spokesperson said.
