The Coronavirus Aid, Relief, and Economic Security (CARES) Act’s $350B Paycheck Protection Program (PPP) is designed to maintain payroll and employ workers through the COVID pandemic. Small businesses need rapid approval and access to these funds. Banks are contending with a massive influx of loan applications, all of which require rapid lending decisions. They must respond with fast, efficient processes – especially challenging in the present environment where workers are remote.
Our PPP application allows banks to accept and manage loan applications from small businesses, support their unique servicing requirements, and ensure compliance under the new CARES Act. The application can be live in just days, and can be quickly extended with advanced automation features including RPA and AI-powered intelligent document processing.
Your app, running in days. Can’t beat that.
If regulations change, your workflows adapt. Quick and easy.
Starting at $25k per month.
Simple and predictable.
Loan application submission online, through a call center, or through intake of the SBA standard form via email or paper.
Loan qualification, including initial eligibility survey, document collection, qualification, and digital signature collection. Loan applications are automatically generated and passed to the SBA’s E-Tran portal for SBA approval.
PPP application fee reimbursement with automated data collection and packaging for SBA submission.
SBA compliance to maintain federal guarantee status. Includes support for the unique delinquency, plan modification, and forgiveness processes associated with the new Act.
Complete reporting and auditing for easy business visibility into loan processing, as well as ongoing compliance requirements.
“About 70% of small businesses have applied for a Cares Act loan. It’s unclear how many have received them.”
Appian is built to meet the operational demands of global banks. And it’s always scalable, reliable, and secure.
Appian is rated #1 in Case Management by Forrester–so your team can speed through any case work.
Connect and share data with existing bank systems of record–data migration optional. Leverage industry-standard tools like DocuSign and Box – with no code.
With leading reliability, RTO/RPO, and comprehensive security qualifications, Appian Cloud is trusted by the financial Services industry. Or, deploy on prem.