CARES Act Enablement Services for Banks

The CARES Act lending programs—including the Payroll Protection Program (PPP) and Main Street Loan Program (MSLP)—require banks to rapidly establish the capabilities necessary to secure limited funds for their borrowers. To do so successfully while also managing credit risk, banks need to rapidly establish program-specific intake, underwriting, decisioning, closing, and monitoring capabilities.  

We have the formula for success. Our team is helping banks process demand from CARES Act lending programs—including nearly 10,000 loans in the first 72 hours of PPP availability. We understand what it takes to stand up these programs, including the need for reliable loan origination software, and can have you ready in just days while also looking at the longer-term potential and value.  

Results You Can Expect

We are committed to supporting banks as they take on the requirements for CARES Act lending programs. Partnering with our CARES Act advisory services can set banks up for successful results.

• Respond quickly to the changing federal lending landscape

• Manage credit risk effectively

• Leverage practical RPA technology to automate processes

• Strengthen customer relationships and increase satisfaction—now and long-term

• Minimize administrative burden and costs 

What We Offer: CARES Act Lending Programs

CARES Act lending team resources and preparation

Set up your team to succeed. We’ll help you establish a dedicated team to address CARES Act requirements, including redeploying resources if necessary, equipped with the right support:

• Clear, consistent, and well-communicated borrower qualifications to ensure equity in credit decisions
• Updated processes that reflect CARES Act program requirements
• A technology-enabled toolkit with access to information about eligibility requirements, underwriting and verification requirements, fees and pricing, and approval/decisioning processes
• A dashboard for monitoring application metrics

Loan origination system (LOS) technology that streamlines the credit delivery process

Establish technology necessary for receiving, processing, approving, and monitoring the influx of loan applications. We can help you stand up supporting LOS technology to support processing applications, making lending decisions, submitting applications for approval, and disbursing loans – using one of two approaches:

• Your current loan origination software—updated with new processes, workflows, and inputs relevant to the CARES Act programs
• nCino’s streamlined loan origination software solution—including CARES Act-specific portal, workflows, and rules-based decisioning. As a long-term nCino partner, we can lead implementation, training, and enablement and provide continuing support.