More than 5,000 financial institutions have participated in the Small Business Administration's Paycheck Protection Program (PPP) since it launched on April 3, providing over $521 billion in funding for small businesses across the country.
Abrigo has been a leading source of information and assistance for financial institutions on the PPP, helping them as they originated loans in their communities. Abrigo also helps PPP lenders process and handle reporting on borrowers' loan forgiveness applications and submit PPP forgiveness requests to the SBA.
Originating PPP loans
Navigating PPP loan forgiveness
Submitting 1502 reports
Submitting PPP forgiveness requests to SBA
Reporting on your PPP portfolio
Ongoing PPP support and expertise
Multiple state banking associations have endorsed Abrigo’s Paycheck Protection Program (PPP) Forgiveness and Administration solution, part of the Sageworks SBA Lending Solution, to aid its member banks in streamlining the loan forgiveness and administration process.
Paycheck Protection Program Forgiveness Checklist
To make the forgiveness process as smooth and efficient as possible, make sure borrowers understand the documents and information needed to apply.
Digital Capabilities Adopted for PPP: The ‘New Best Practices’ For Strongest Players
Adoption of digitalization by FIs participating in PPP representing a turning point for those that embraced their capabilities, according to a new report from the Aite Group.
Unity Bank: Partnering to Provide Community Solutions in Critical Times
See why Abrigo was the 'perfect partner' to help Unity Bank maximize its PPP impact, and learn how the partnership enabled the bank to secure $130 million in funding.
Loan Workout Automation: Demo
Even as they work with PPP borrowers, lenders in many markets will face a wave of negotiations and restructures to stabilize borrowers recovering from the coronavirus's impact. Learn how tools you have in place can make this process more efficient.
Reduce inefficient, manual processes involved in the SBA lending process through the Abrigo solution. With streamlined underwriting and an E-Tran integration, our solution allows financial institutions to ramp up their SBA lending efforts to support small businesses struggling due to the coronavirus.Explore Abrigo's SBA Lending Solution Today