ESRA’s Role in Modernizing SBA Loan Processes Reply

MEDIA RELEASE – 9/23/2014

Electronic Signature and Records Association (ESRA)  Plays Integral Role in Modernizing SBA Loan Processes
ESRA board member available to comment on recent SBA legislation

WHAT:
The Small Business Loan Simplification Act of 2014 was introduced on the floor of the U.S. House of Representatives on Thursday, September 18th. ESRA provided key insight and education to the House Committee for Small Business during a meeting in July, and last week offered its official support of this the bill to committee chairman Sam Graves.

Using its collective voice, ESRA shared industry context regarding the ESIGN Act, UETA and GPEA, reaffirming the existing laws already in place, and provided recommendations for the proposed legislation. If enacted by Congress, this legislation will effectively streamline the SBA loan application, underwriting and funding process.

Ken Moyle, ESRA public policy chair and chief policy officer for DocuSign can comment on the bill’s introduction and speak to topics including:

  • Feedback from lenders and other financial institutions on the need for further adoption of electronic signatures and records;
  • The Small Business Administration’s (SBA)  new initiatives designed to streamline the loan process for all parties; and
  • Overcoming misperceptions around the legality of e-signatures and electronic records.

ESRA was actively involved in the Federal Housing Administration’s (FHA) recently announced acceptance of electronic processes, the Consumer Financial Protection Bureau (CFPB) mortgage eClosing conversations, as well as last year’s IRS decision to accept electronic signatures on 4506-T, 8878, and 8879 forms.

WHO:
Ken Moyle is board member and public policy chair, ESRA as well as chief policy officer, DocuSign. He is a leading authority on legal and practical implementations of electronic signatures and records, and frequently advises industry experts, regulators and lawmakers in developing policies for electronic signatures worldwide.

CONTACT:
To schedule an interview with Ken Moyle, please contact Kathryn Farmer, Kathryn@williammills.com or 678.781.7208.

 About ESRA
The Electronic Signature and Records Association (ESRA) is the premier trade association representing electronic signature and records industry adopters and providers. Founded in 2006, the organization’s primary mission is to educate its members and the public on legal, public policy, regulatory and operational issues in relation to the use of electronic signatures and records across various industries. For more information, visit www.esignrecords.org.

Big News for Small Biz — SBA Loan eSignature Bill 1

The Small Business Loan Simplification Act of 2014 was introduced on the floor of the U.S. House of Representatives this afternoon. The House Committee on Small Business invited ESRA’s Public Policy Committee to Washington, DC for a meeting this past July. ESRA provided industry insights; education about ESIGN, UETA, GPEA; and recommendations for the proposed legislation being considered. Support was gathered by the House Committee from industry, including providers of electronic signature and record technology, the banking community, and a number of organizations representing various types of SBA lenders. ESRA has continued to share consultative feedback throughout the process. Earlier this week ESRA offered its official support of the bill to the chairman of the House Small Business Committee, Sam Graves. If enacted by Congress, this legislation achieves the important goal of making the SBA loan application process more efficient and will get capital in the hands of small businesses more easily.  To find out more, click here for the press release issued by the House Small Business Committee.