Loan Servicing /Trust Accounting/Portal FY26

The state of Illinois, specifically Cook County, is seeking a Loan Servicing/Trust Accounting/Portal solution for Fiscal Year 2026 through a small purchase procurement method. The contract is a Basic Ordering Agreement (BOA) with Applied Business Software for an annual Software-as-a-Service (SaaS) license covering multiple software modules including Loan Servicing, Trust Accounting, ACH Express, GTM, and ARM Modules. The procurement is structured as a state contract under $50,000, with a single annual license quantity priced at $28,800. The contract term will commence upon execution and terminate on 10/6/2026, representing a fiscal year 2026 procurement cycle. Proposals are due by October 14, 2025, with the posting date being October 7, 2025. The vendor is located in Signal Hill, California, while the state agency is based in Chicago, Illinois.

No specific set-aside designations or restrictions on responding organizations were explicitly detailed in the procurement documents. The contract appears to be a standard state procurement without special enterprise preferences or limitations. Monthly payment cycles are structured into the agreement, and no subcontractors are currently involved in the proposed contract. The total contract value is $28,800 for the annual SaaS license, payable yearly in advance. While no incumbent vendor information was provided, the contract includes standard state terms related to payment, confidentiality, compliance, and performance expectations. The funding is identified generically as state funding, with no specific source or special funding requirements articulated. The procurement method is classified as a small purchase, suggesting a streamlined acquisition process with minimal complex bidding requirements.