Jerry Petersen
Kathryn Kienast, executive vice president of client success at Allocore, said in an article posted recently on LinkedIn that her company — the developer of a government loan and grants program platform — sees an opportunity for Congress and the proposed Department of Government Efficiency to streamline the way the public interacts with federal credit programs.
Kienast said such programs, which provide various forms of financial support like student loans and small business financing, could benefit from being delivered via a single digital platform.
“Imagine American borrowers using one user-friendly application for all their legitimate funding needs, or entrepreneurs tapping into multiple loan programs without duplicative paperwork,” the Allocore EVP noted.
In addition to reducing administrative costs, enhancing oversight and preventing fraud, the use of a single platform would also result in the faster delivery of service and the bolstering of public trust.
Kienast went on to call for the transformation of “the government’s vast credit portfolio into an even more powerful catalyst for progress, opportunity and economic resilience.”
