When the Fed created the SBA Payment Protection Program (PPP) through the CARES Act, we got to work making sure PrecisionLender was set up and ready to price PPP loans.
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Setting Up PPP Loans Within PrecisionLender
If you’re looking for guidance on pricing new SBA PPP loans within PrecisionLender, we’ve got you covered. We recommend setting up a specific product type for classifying these loans and offer step-by-step coaching through our virtual assistant, Andi®. This allows for both pipeline tracking and Relationship Awareness product segregation in the loan portfolio.
PPP Andi Skill
We’ve also developed an Andi skill that enables bankers to check if a loan and borrower qualify for PPP and suggests changes to structures that do not qualify.
To learn more about how to configure and test the skill, and then view and enable it in PrecisionLender, check out this support article.
Q2’s PPP Solution
Q2's Cloud Lending recently launched an end-to-end digital lending solution specifically designed to help financial institutions accelerate application acceptance and funding to small businesses. The product streamlines the entire process, from application to decisioning to packaging to forgiveness, and can be stood up at your bank in just a few days.
Learn more about how this tool can help your customers get the loan assistance they need fast.
Weekly, Timely, Data-Driven Content
We know how hard it can be to keep up with that latest shifts in the market. To keep you informed on what's happening in the market, each week we're sharing a Commercial Loan Pricing Market Update. You can find this week's edition and all of our other current market content here.
Your efforts to best serve your customers in this unprecedented time are not going unnoticed. If there is anything we can help with, please contact firstname.lastname@example.org.
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