Jerry Petersen 
- The USDA has established a blanket purchase agreement with Allocore and issued an initial task order
- The task order calls for the use of Allocore One for the modernization of designated loan and grant programs
- Allocore One works to deliver government loan, grant and fraud management capabilities under a cloud-native environment
The U.S. Department of Agriculture has established a five-year blanket purchase agreement with Allocore to enhance the delivery of loans and grants using Allocore One, a platform that delivers government loan, grant and fraud management capabilities under a single FedRAMP High, cloud-native environment.
What Work Does the USDA BPA Entail?
The financial technology company said Friday that the BPA is accompanied by an initial task order, which calls for the use of the platform to modernize designated loan and grant programs while the continuity of existing portfolios and operations is maintained.
Commenting on the agreement, Allocore CEO and past Wash100 Award winner Bill Webner said, “Modern government financial systems should evolve as quickly as the mission demands. Our goal is to help USDA deliver a faster, simpler and more resilient experience for producers, lenders and agency employees alike.”
How Did Allocore Prepare to Support Federal Lending Modernization?
In January, Allocore established an advisory board that would offer guidance as the company worked to support federal lending program modernization. The board would work with company leadership to inform policy alignment, product strategy and growth initiatives.
Commenting on the move, Webner said at the time, “Our Advisory Board brings leaders who have overseen federal credit, payments, budgeting, and fraud prevention at national scale. Their experience will help ensure Allocore continues to deliver technology that improves service to borrowers, strengthens program integrity, and protects taxpayer dollars.”
