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 $530 billion in funding for small businesses across the country.
Abrigo has armed financial institutions with the accurate and up-to-date information they need to succeed during this unprecedented time, from initial understanding of program details and originating PPP applications to now focusing on the forgiveness and administration process.
Becoming a PPP lender
Originating PPP loans
Navigating PPP loan forgiveness
Submitting 1502 reports
Reporting on your PPP portfolio
Ongoing PPP support and expertise
Several 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.
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.
What the Coronavirus Has Taught Us About Banking Relationships
While CFIs have relied on relationship banking and face-to-face interactions, CFIs that embrace digital offerings, as they have for PPP, have proven that digitization can strengthen relationships and provide a competitive advantage going forward.
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
Lenders in many markets will face a wave of negotiations and restructures to stabilize borrowers recovering from the coronavirus's impact. Learn how the tools you already 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