RER Solutions pricing proposal to SBA Office of Disaster Assistance, Data Analysis and Loan Recommendations Services
Summary
The document is a pricing proposal by RER Solutions Inc teamed with RocketLoans to the U.S. Small Business Administration, Office of Disaster Assistance, for Data Analysis and Loan Recommendations Services under Contract #: 73351018D0001, Task Order 2 for COVID-19 support. It proposes revised monthly fixed fees of $4,073,494.40 for Month 1 and $2,373,494.40 for Months 2-9. Its rate table lists $169.95 per loan recommendation at the top volume tier, $51.00 of it the advance portion. The team would cap COVID-19 support, including monthly fixed and processing fees, at $500 million through December 31, 2020, for up to 7,500,000 unique EIDL applications, and lists $66.67 per advance recommendation and per loan recommendation for additional applications beyond that. The team commits to at least 2 million recommendations in 60 days, twice the minimum performance standard in the IDIQ.
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“RER Solutions pricing proposal to SBA Office of Disaster Assistance, Data Analysis and Loan Recommendations Services.”
Original at coronavirus.house.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/sba-amendment-of-solicitation-modification-of-contract-p00003-redacted-4593b00938/
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U.S. Small Business Administration, Office of Disaster Assistance
RER Solutions Inc teamed with RocketLoans.
Data Analysis and Loan Recommendations Services
Contract #: 73351018D0001
TABLE OF CONTENTS
PRICING OVERVIEW ............................................................................................................................................................... 1
SUMMARY OF PRICING STRUCTURE AND RATIONALE .................................................................................................................... 1
BENEFITS TO ODA .......................................................................................................................................................................... 1
1. PROPOSED PRICING ..................................................................................................................................................... 2
1.1 MONTHLY FIXED FEES ...................................................................................................................................................... 2
1.1.1 MONTHLY STAFFING PRICE BUILDUP (RELATED TO REVISED SCOPE) ........................................................................... 2
1.1.1.1 TECHNOLOGY INTEGRATION STAFF ............................................................................................................................. 2
1.1.1.2 LOAN/ADVANCE PROCESSING STAFFING SUPPORT ................................................................................................... 3
1.2 LOAN RECOMMENDATIONS/ADVANCE PROCESSING FEES .............................................................................................. 3
1.3 MISCELLANEOUS OTHER CHARGES ................................................................................................................................. 4
1.4 NOT-TO-EXCEED PRICING FOR COVID-19 SUPPORT THROUGH DECEMBER 31, 2020................................................ 4
Use or disclosure of data contained on this sheet is subject to the restriction on the title page of this proposal
U.S. Small Business Administration, Office of Disaster Assistance
RER Solutions Inc teamed with RocketLoans
Data Analysis and Loan Recommendations Services
Contract #: 73351018D0001
PRICING OVERVIEW
Summary of Pricing Structure and Rationale
The RER-Rocket pricing structure has been designed to be simple and transparent, and to limit the administrative burdens
that would be required for alternative pricing structures. Our proposed pricing structure features:
Fixed Fee Pricing A fixed price per loan recommendation is simple and transparent. ODA will not have to spend
time reviewing more complicated pricing models that include hourly charges and various categories of other fees.
Using hourly rates for this work had the potential to create cost uncertainty and constrain response times when
services will be most needed, during large disasters that will require extended working hours and performance
through holidays and weekends. With a fixed price, ODA knows in advance what the cost for services will be and
can quickly develop and issue Task Orders with a clear understanding of costs.
Pricing Tiers with Additional Volume Based Discounts: The RER-Rocket Team’s Tier 1 fixed fee pricing
incorporates substantial discounts to ODA. The discounts offered on the Tier 1 pricing are further enhanced with 2
additional volume based pricing tiers that allow SBA to take advantage of discounts on a monthly basis. The Tier 1
fixed price per loan recommendation includes more than 15% in discounts based on RER’s established rates and
more than 60% off based on Rocket’s standard commercial pricing. The Tier 2 price includes an additional 3%
discount and the Tier 3 price includes an additional 6% off relative to the Tier 1 price. Consistent with the goal of
providing simple and transparent pricing, the RER-Rocket Team has proposed 3 pricing tiers, which we believe
appropriately balances additional discounts for increased volumes against the complexity of offering too many pricing
tiers.
Monthly Fixed Fee: The monthly fixed fee allows the RER-Rocket Team to provide continuous, fully responsive
service to ODA. We will be prepared to meet all performance requirements without the need to keep revisiting costs
for things like maintenance, routine changes, resourcing variability, 3rd party data licensing, etc. Our comprehensive
data analysis and loan recommendation solution will be available and ready to respond to any size disaster event 24
hours per day, 7 days per week, and 365 days of the year.
Limited Additional Fees: Our intention is to provide a single price that covers all services, technology, and data
required to deliver a high quality loan recommendation in minimal time. We have developed a pricing model that
enables us to meet all of ODA’s current needs. Our pricing also anticipates the need for incremental changes that
will occur over the course of the full 5-year period of performance. We understand that policies, regulations, and
ODA’s operating model may evolve over time and we are prepared to work alongside ODA to implement these
routine changes at no additional cost to ODA. In the rare instance where a substantial change needs to be made to
accommodate an ODA request, the RER-Rocket Team may request additional fees to cover these changes. Labor
rates have been provided only to address needs that arise under extenuating circumstances and will only be used
to develop firm fixed task based pricing for additional services, as requested.
Benefits to ODA
The RER-Rocket pricing structure offers several benefits to ODA:
All-Inclusive: Our proposed pricing covers all of the services, technology, and data required to meet SBA’s
performance requirements under both normal operating circumstances as well as for large disaster response events.
When disaster strikes, the RER-Rocket team will be prepared to respond as needed without needing to stop for the
administrative barriers that would be required for pricing every single change.
Multi-Level Discounts: The base level loan recommendation pricing includes more than 15% discounts off of RER’s
rates. Additional discount of 3-6% will be applied based on monthly volume.
Minimal Administrative Burden: Our pricing structure eliminates the need for ODA to review and approve hourly
labor charges. Per application fees allow ODA to align costs with loan processing volume and improved pricing
transparency. Through weekly and monthly reporting, ODA will be informed of application processing volume and
project costs.
The RER-Rocket Team’s entire offer, has been designed to be simple, transparent and fast, allowing ODA to focus on
its mission of supporting disaster survivors by providing needed financial resources as quickly as possible.
Use or disclosure of data contained on this sheet is subject to the restriction on the title page of this proposal
1
U.S. Small Business Administration, Office of Disaster Assistance
RER Solutions Inc teamed with RocketLoans
Data Analysis and Loan Recommendations Services
Contract #: 73351018D0001
1. PROPOSED PRICING
The following sections provide a breakdown of the proposed pricing for the second task order.
1.1 Monthly Fixed Fees
In response to the additional requirements detailed in the Statement of Work for Task Order 2, the RER-Rocket Team
proposes the revised monthly fixed fees:
Fixed Fees Month 1 Month 2-9
Additional Technology to Support New $2,000,000.00 $300,000
Requirements*
Additional Technology Integration Staff $937,814.40 $937,814.40
Loan/Advance Processing Staffing Support $1,135,680.00 $1,135,680.00
Total $4,073,494.40 $2,373,494.40
*Includes costs for platform access, set up of intake website, web-hosting, data storage, securing excess cloud capacity,
e-signature fees etc.
In order to meet an expedited timeframe, we identified an existing platform that could be re-purposed to meet SBA’s
needs. The requested fee for just getting access to that platform was $1 million.
Initial platform standup expenses, security configuration, etc. ~$400,000
DocuSign up front expenses ~$300,000
We have planned for essentially unlimited processing capacity with associated cloud storage and web-hosting fees
of ~$300,000/month
1.1.1 Monthly Staffing Price Buildup (Related to Revised Scope)
The following buildup for the staffing related fees are based on the Option Year 1 labor categories and rates:
1.1.1.1 Technology Integration Staff
Option Year 1 Number of Staff Hours* Total
Labor Category
Rate
Program Manager $264.48 4 240 $253,900.80
Task Lead – Technology Integration $188.66 2 240 $90,556.80
Project Manager/Systems Engineering $137.51 2 240 $66,004.80
Senior Software Engineer $114.96 10 240 $275,904.00
Software Engineer $104.77 10 240 $251,448.00
Total $937,814.40
*Team members are expected to work above standard working hours to support the requirements over the coming year.
We expect the technical staff will need to work an average of 60 hours per week to be fully prepared to meet the ODA’s
needs.
Please see the following summary of work to be performed in the coming months on the technical side:
Use or disclosure of data contained on this sheet is subject to the restriction on the title page of this proposal
2
U.S. Small Business Administration, Office of Disaster Assistance
RER Solutions Inc teamed with RocketLoans
Data Analysis and Loan Recommendations Services
Contract #: 73351018D0001
Initial intake development and roll out, revisions as required
Buildout of the decisioning engine for phase I loans and advances
Initial workaround integration back into DCMS/SBA system
Completion of integration into SBA/DCMS system
Actual Executive/Management Technical Staff:
Will Tumulty, CEO
Joe Looney, General Counsel
Bogdan Nastea - CTO
Darien Allen – Director of IT –Infrastructure, azure, email, infosec
Bill Banick – Director of Development – Software development efforts
Shapour Rafii – Business Process Manager –UW rules, decision rules, user experience, training, support
Claudiu Georgescu – Software Solution Architect– Software architecture details, performance
Ruslan Rustamov – Lead QA Engineer Testing, - product demos, support
Luz Punzalan – Lead Business Systems Analyst Requirements, workflows, documentation, user guides
Shah Zarghami – Business intelligence Lead Data migrations, reporting
Andrew Papier – Business Intelligence Solution Architect – Data architecture, ETL
In addition to the above resources we currently have a pool of 23 .Net/SQL developers, 4 Business Analysts, 5 QA
Engineers, 4 BI resources (SQL based), 3 Infrastructure Support, 5 Support/UX/SEO resources. So that’s 44 total
additional resources. We initially plan to dedicate half of the team but are prepared to offer the full team with no additional
cost to the SBA during the period of performance.
1.1.1.2 Loan/Advance Processing Staffing Support
Option Year 1 Number of Staff Hours Total
Labor Category
Rate
Customer Service/Tech Support $59.15 120 160 $1,135,680.00
Total $1,135,680.00
The current process is designed to optimize and auto-decisioning, but there will still be a percentage of loans that
require manual intervention
The loan processors who are already familiar with the platform will provide this manual intervention support
Staff will also be available to provide any manual/data entry processing to support transitional periods (for example
the initial build will require manual data entry to move data back into ETRAN), we may also need to port information
between SBA/RER-Rocket system manually for some interims periods and these resources would support those
efforts
Also includes development of training resources for SBA staff who will be using RER-Rocket platform to process
loans
SBA team leads will approve and obligate upon receiving recommendation
1.2 Loan Recommendations/Advance Processing Fees
The RER-Rocket Team has proposed a pricing structure that will cover both loan recommendation as well as advance
processing services.
Use or disclosure of data contained on this sheet is subject to the restriction on the title page of this proposal
3
U.S. Small Business Administration, Office of Disaster Assistance
RER Solutions Inc teamed with RocketLoans
Data Analysis and Loan Recommendations Services
Contract #: 73351018D0001
Option Year 1 Offered Rate Offered Rate Offered Rate
Loan Recommendations/Month Rate EIDL loan only EIDL advance EIDL loan
(w/out advance) (w/loan) (w/advance)
Tier 1 Rate Per Recommendation
from 0 to 66,000 $180.25 $169.95 $51.00 $118.95
Tier 2 Rate Per Recommendation
from 66,001 to 150,000 $175.10 $169.95 $51.00 $118.95
Tier 3 Rate Per Recommendation
from 150,001+ $169.95 $169.95 $51.00 $118.95
For EIDL loans applications that include an advance request, payment of the EIDL advance portion of the fee ($51.00)
will be due when an EIDL advance recommendation is made. The remaining fee ($118.95) will be paid when the final
loan recommendation is made. For applications without an advance request, the full fee of ($169.95) will be due when
the loan recommendation is made.
1.3 Miscellaneous Other Charges
The following Miscellaneous charges will be added to the per loan recommendation fees included in Section 1.2 of this
document.
Misc. Charges Option Year Offered Rate
1 Rate
Joint Applicant/Co-Borrower Fee $30.00 $20.00
Business Loans $425.00 $0
Dun and Bradstreet Report $125.00 N/A
1.4 Not-to-Exceed Pricing for COVID-19 Support Through December 31, 2020
In light of the unprecedented volumes and continuing uncertainties around how many applications we may receive
related to the COVID-19 disaster, the RER-Rocket Team proposes the following:
We are prepared to cap the COVID-19 related support (including monthly fixed and processing fees) for advances
and loans at $500 million through December 31, 2020 for advance and loan recommendations for up to 7,500,000
unique COVID-19 EIDL applications
o For clarification, this is up to two decisions, an advance and/or loan decision, for 7,500,000 unique
applications
On April 24, 2020 the disaster program received $10 Billion in additional funding for EIDL advances and a $50 Billion
appropriation, which translates to an additional $367 Billion in EIDL loan lending authority
The average loan size is approximately $200,000 per approved loan and the average advance amount is
approximately $3,200 per approved advance. Based on the existing EIDL loan and advance sizing calculations, the
additional funds should cover the current pool of applications for both EIDL loans and EIDL advances.
The application intake portal has been closed since April 16th, as of that date the total queue of applications was,
and remains, 5.4 million applications (including duplicates)
Once directed by ODA, the application intake portal will be re-opened and additional applicants will be able to submit
applications for EIDL loans and advances
Preliminary estimates are that 2 million new applications will be received in response to the additional funding
Based on the current applications and the current estimate for additional applications, the 7,500,000
recommendations covered under the $500M cap should provide coverage for both EIDL loan and advance decisions
Given the level of urgency and compressed timeframes for getting the advance and loan money into the hands of
small businesses, the RER-Rocket Team will increase its minimum performance standard to twice the standard
included in the IDIQ. Rather than providing 1 million recommendations in 60 days, the RER-Rocket Team will provide
Use or disclosure of data contained on this sheet is subject to the restriction on the title page of this proposal
4
U.S. Small Business Administration, Office of Disaster Assistance
RER Solutions Inc teamed with RocketLoans
Data Analysis and Loan Recommendations Services
Contract #: 73351018D0001
at least 2 million recommendations in 60 days. In meeting this requirement, individual advance or loan
recommendations will each count as a single recommendation. This change will only apply to Task Order 2 for
COVID-19 support.
SBA would pay the monthly fixed fee plus the per loan and per advance recommendation fees until we hit the $500
million and then all fees would stop. SBA would not have to pay the full $500M if the RER Team doesn’t process the
number of recommendations required to reach the cap.
In the event that ODA requires recommendations beyond the 7,500,000 included within the $500M cap, the RER-
Rocket Team will provide a supplemental proposal to address those additional needs. The rate for additional
applications processed will be:
o $66.67 per advance recommendation
o $66.67 per loan recommendation with an advance recommendation
o $66.67 per loan recommendation without an advance recommendation
Use or disclosure of data contained on this sheet is subject to the restriction on the title page of this proposal
5
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