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This page is for community bankers to ask questions, share experiences and learn more about the PPP process.
​This is a peer exchange and not official interpretation or legal consultation.
Please refer to SBA and Treasury for 
official guidance. 

FinTech companies that were used by banks to help get loans into the system but who failed to do so before the system shutdown due to number of loans that overwhelmed their ability to process.

4/21/2020

1 Comment

 
  • We know several of the Fintechs who are still sitting on those applications awaiting (and having anticipated) new funding and expect to continuing processing those applications.
  • Several of these bank/Fintech partnerships have actually been expanded during this limbo period and some new ones have been created in this time as well.
  • The Fintechs have used this period to improve their tech stack to speed up and improve the process.
    • This includes some KYC/underwriting elements that were causing eTran to reject some applications.
    • This includes improving the throughput integration into eTran to allow them to pump more loans into it faster.
1 Comment

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    Categories

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    Application 2484
    Fintech
    Forgiveness
    Funding
    Late Charge
    Notice To Applicants
    Origination
    Third Party
    XML File


    Related Resources:
    • ICBA 
      Info and FAQ on SBA PPP
    • ​Treasury FAQ 
    ​OriTrust
    ​

    OriTrust's PPP Fast Application is a powerful bank developed tool that can help its members fast-track PPP lending and is very straightforward and simple to use. It helps with making sure the bank is collecting all the required information and with the ongoing monitoring of information to ensure each borrower obtains loan forgiveness. 
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Phone: 800-627-6613 | info@ccbnetwork.org  | sitemap
  • Membership
    • Member Portal Login
    • Bankers Helping Bankers
    • Associate Membership
    • CCBN Associate Member Directory
  • Education and Events
    • Seminars and Events
    • Webinars >
      • Categories >
        • AUDIT & ACCOUNTING
        • Collections
        • Compliance
        • Directors
        • Frontline New Accounts
        • Human Resources
        • IT
        • IRA
        • Lending
        • Marketing
        • Operations
        • Security & Fraud
        • Senior Management
    • Recorded Webinars
    • Continuing Education
    • Resources
  • Advocacy
    • Legislative Successes
    • From ICBA >
      • From Washington DC
      • From the Top
      • Portfolio Management
  • About Us
    • Our Team
    • Board of Directors
    • Contact
  • Preferred Service Providers (PSP)
    • PSP Announcements