Summit Wins SBA Contract to Validate Federal Credit Subsidy Models

May 9, 2016 (Washington, DC) – Summit Consulting (Summit) announces today that the U.S. Small Business Administration (SBA) has selected the DC-based firm for a long-term contract to provide validation for federal credit subsidy models.

Summit has served SBA since 2010, and this new contract represents up to five more years of work. During this engagement, Summit will independently validate SBA’s credit subsidy models. Summit will review the model methodology, operations, input/output, and documentations to ensure their compliance with Federal Credit Reform Act (FCRA) regulations and accounting and industry standards.

“It is Summit's privilege to serve SBA, and we are excited to be continuing our working relationship,” says Frieda Chung, Summit’s Manager of Federal Credit Modeling and Forecasting. “SBA’s Office of Financial Analysis and Modeling (OFAM) has the most rigorous and standardized process on subsidy model validations within the federal credit space. It is a distinct honor to work alongside their team to improve model governance and promote internal controls.”  

SBA is an independent agency of the U.S. federal government that aids, counsels, and protects the interests of small businesses. Since its founding in 1953, SBA has worked to preserve free enterprise and strengthen the economy by delivering loans, loan guarantees, contracts, counseling sessions, and other small business assistance.

About Summit:
Summit is a specialized analytics advisory firm that guides federal agencies, financial institutions, and litigators as they decode their most complex analytical challenges. Summit’s staff of economists, econometricians, and research scientists use quantitative techniques to assist our clients as they model risk, evaluate program performance, and predict future performance.

At Summit, we solve complex analytical challenges with unparalleled customer service and extensive client collaboration. The solutions are complete only when they are understood by our clients and solve their problems. Our distinct capabilities include program evaluation, applied statistics and economics, mortgage finance, financial services, federal credit modeling and forecasting, and litigation analytics.

Summit hosts a solutions-focused academic environment and is dedicated to staying at—and pushing—the forefront of analytics best practices. To that end, our staff members present research at conferences worldwide and partake in intensive in-house technical trainings (read more about our Professional Education and Knowledge Seminars) on a weekly basis. Our principals, academics, and research scientists are recognized experts in their fields, and they are capable of leading large and small solution teams. Find out more about Summit by visiting the company website: http://www.summitllc.us/.

Media Contact:
Jennifer Folsom
Chief of Corporate Development
202.407.8332 - Office
jennifer.folsom@summitllc.us

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