PPP Loan Forgiveness Updates and Automation Opportunities

The Paycheck Protection Program Flexibility Act of 2020 brings new guidance to the loan forgiveness process. The new act introduces leniency in the form of extended loan periods and new standards for employee compensation. But despite this new flexibility, the…

PPP Loan Forgiveness Updates and Automation Opportunities

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The Paycheck Protection Program Flexibility Act of 2020 brings new guidance to the loan forgiveness process. The new act introduces leniency in the form of extended loan periods and new standards for employee compensation.

But despite this new flexibility, the hard part is still to come:

Handling forgiveness requests will be tedious, complex, and difficult. However, it doesn’t have to be. Credit unions can simplify the PPP loan forgiveness process for their small business members with member-driven design elements:

•Automation
Streamlined, intuitive UI/UX
•Transparency and gamification

Join Capiform and CU 2.0 for a webinar to discuss updates in documentation and submittal, automation opportunities, and improving the member experience.