Tellenger Announces Successful Completion of First SBA Loan Program Release
Significant milestone is part of a multi-year award that the team is delivering against
FAIRFAX, Va., June 23, 2022 (GLOBE NEWSWIRE) -- Tellenger Inc., a subsidiary of WaveDancer, Inc., (NASDAQ: WAVD) announced today that, in collaboration with their teaming partners, they have successfully completed a major release related to their U.S. Small Business Administration (SBA) 7(a) Loan Program and Secondary Market project. Tellenger, a long-standing subcontractor of the SBA, was tasked with modernizing parts of the SBA loan program system to allow for easier maintenance and greater reliability.
The newly modernized system will allow the program to better perform loan servicing, technology modernization, and financial services for SBA’s loan programs, which have grown to over 7,500 lenders and nearly one trillion in assets.
The multi-year award aims to bring significant modernization to further enhance the critical loan program. The contracting team has worked with the SBA to develop a technology roadmap that includes multiple phases of work. Tellenger’s staff includes a proven lineup of dedicated system migration specialists and analysts.
“We were critical in helping the modernization team achieve this significant milestone for the largest SBA loan program. We look forward to continuing to support the SBA in their modernization efforts over the coming years,” stated Tellenger’s President, Stan Reese.
Tellenger’s extensive experience in modernizing and migrating legacy systems that utilize COBOL and ColdFusion technology, along with its past success in complex enhancements of SBA legacy systems, will add valuable, technical expertise to the ongoing support of the new platform.
Tellenger (www.tellenger.com), a wholly owned subsidiary of WaveDancer, Inc., is a boutique IT consulting and software development company that helps organizations meet their business goals through technology. Tellenger specializes in modernization, software development, cybersecurity, cloud solutions, and data analytics. From business process re-engineering to cloud migrations to SaaS implementations and more, Tellenger uses technology to help clients in the private and public sectors increase productivity, gain efficiencies, and achieve KPIs.
WaveDancer (www.wavedancer.com), headquartered in Fairfax, Virginia, offers zero trust blockchain-enabled software solutions for supply chain security. Our technologies are deployed and being used to help organizations manage very complex supply chain challenges. Customers are using the WaveDancer platform to gain unprecedented levels of accountability, auditability, and predictability from their data, while giving insights to their partners and suppliers through a controlled, distributed ledger that is immutable and can be trusted by all parties.
Additional information for investors
This release may contain forward-looking statements regarding the Company'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. Investors should read and understand the risk factors detailed in the Company's 10-K for the fiscal year ended December 31, 2021 and in other filings with the Securities and Exchange Commission.
For additional information contact:
Jeremy Hellman, CFA
The Equity Group
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