The Money Store Investment Corp., the nation's leading provider of Small Business Administration loans, has cut its SBA loan-servicing staff by nearly 20%.

The April 6 layoff notices were given to a reported 12 employees in the Sacramento, Calif., office. Michael Benoff, a Money Store senior vice president, confirmed the move, saying the cuts were part of a reorganization designed to make the servicing unit more efficient.

Meanwhile, The Money Store's Union, N.J.-based parent reported a 43.9% rise in net income, to $31.3 million.

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