Iowa Bankers Insurance & Services, Inc. Iowa Bankers Mortgage Corporation
Iowa Bankers Association
8800 NW 62nd Avenue
Johnston, IA 50131
Toll-Free: 800-532-1423
Local: 515-286-4300
Fax: 515-280-4140

Paycheck Protection Program Solutions

Archived Industry News:Paycheck Protection Program Solutions

Last Updated: 6/17/2020 7:02 PM

Paycheck Protection Program Solutions

The IBA has been contacted by several software providers providing solutions to assist bankers with the loan forgiveness phase of the Paycheck Protection Program. Below is a brief overview and link to various software providers offering PPP loan forgiveness solutions.

The IBA is sharing this for informational purposes only; this should not be deemed as a formal endorsement of the products or services.

  • Abrigo’s PPP Loan Forgiveness Platform
    • Abrigo's automated PPP loan forgiveness solution provides banks with software to digitize the collection and submission of any required forgiveness documentation, so banks can spend less time dealing with manual processes and more time serving their small business borrowers. In addition to increased efficiency and speed on the front end, Abrigo’s solution also gives banks the ability to calculate the forgiveness amount based on the provided PPP guidelines to ensure compliance and accuracy. Lenders can also generate Form 1502 within the platform to request their loan processing fees from the U.S. Small Business Administration and for ongoing monthly servicing. Learn more.
  • Alpharank
    • Alpharank provides a one-stop destination where borrowers tag qualifying transactions and provide backup documentation. On the back end, loan officers get clean, graded-for-eligibility applications and completely avoid the administrative crunch.
  • Lenders Cooperative
    • Lenders Cooperative’s PPP Forgiveness Portal enables financial institutions to collaborate with borrowers, accept PPP forgiveness requests and organizes the back-office and loan medication process. Features of the portal include: automated data submissions, interactive borrower portal, borrower documentation, back-office approval workflow and integrated DocuSign engine. Learn more.
  • Nimble
    • Switch Tech LLC, aka "nimble," is an Iowa fintech company founded by bankers for bankers. Nimble is a streamlined solution for both borrowers and lenders and offers a secure portal to upload relevant information for funded applications and relevant documents. Nimble also streamlines bank statement to payroll reconciliation and automatically calculates exclusions.
  • OriTurst’s PPP Fast App
    • OriTrust's PPP Fast App for loan forgiveness can help bankers ensure they have all the information they need to accelerate the process, without sacrificing accuracy or security, in one place. Fast App was built by bankers for bankers, using innovative smart network and hybrid distributed ledger technology to allow users to own and control their own data, store documents in a secure digital safe deposit box and give permission access to trusted individuals and organizations. Fast App is much more than software; it is a streaming solution. And, onboarding is simple, with four easy steps that can be mastered in 20 minutes or less.
  • Wolf & Company
    • Wolf & Company has created a PPP Loan Forgiveness Advisory Service to offer key guidance and support to financial institutions and their borrowers as they work through SBA PPP loan forgiveness. Learn more.
  • Wolters Kluwer’s TSoftPlus PPP & Forgiveness Solution
    • With Paycheck Protection Program supported by TSoftPlus, lenders can immediately start processing compliant PPP loans, giving their clients quick access to much-needed funds. This end-to-end solution automatically selects SBA-compliant documents, plus supplementary documents, to keep PPP lending running smoothly. Learn more.

 

promo 3

Iowa Bankers Mortgage Corp. (IBMC) offers the products & experience Iowa banks need in the secondary mortgage market.

learn more
promo 2

Iowa Bankers Insurance & Services (IBIS) offers Iowa banks a full line of insurance products.

learn more