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.
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
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:
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:
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