Financial Institutions Can Streamline New Round of PPP Lending With Fiserv

• Banks and credit unions can connect small businesses to needed funding with streamlined end-to-end lending solution

Fiserv, Inc., a leading global provider of payments and financial services technology solutions, is ready to help financial institutions facilitate paycheck protection loan applications and service l**** made through the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). New funding for the program was signed into law on December 27, 2020.

“Our team has been working incredibly hard to ensure immediate access to this next round of funding for as many institutions and businesses as possible”

Fiserv has enabled PPP lending since the initial round of funding was made available in early 2020, and has remained engaged with the SBA as application, eligibility and submission requirements have been finalized for this latest round. Accordingly, Fiserv will offer an updated, streamlined platform that takes any adjustments into account, with the goal of expediting the nationwide process of delivering needed funds to small businesses.

Recommended AI News: Computer Vision AI Startup Fyma Secures $1.8 Million Seed Investment Led by Change Ventures

In 2020, Fiserv worked with hundreds of financial institutions across the United States to help facilitate more than 100,000 l**** to small businesses and has helped many of these organizations navigate the complex PPP loan forgiveness process, earning positive feedback from clients.

“Everything is online, easily stood-up, and intuitive,” said Richard Olson, senior vice president at Envision Bank. “The flows make sense and are completely logical for the bank customer and banker. That just makes everyone’s job easier and experience better.”

Fiserv is providing PPP lending support in conjunction with StreetShares, which offers business lending solutions technology to allow community banks and credit unions to affordably make small business l**** with a 100% digital, omni-channel experience.

Fiserv also recently announced a program to provide free and lower-cost PPP forgiveness applications to Minority Depository Institutions and minority-owned businesses, and will also offer MDIs free and lower-cost access to this new end-to-end PPP offering.

Recommended AI News: Raspberry Pi-Powered Robotics Kit Makes Its Entrance at Consumer Electronics Show

“Our team has been working incredibly hard to ensure immediate access to this next round of funding for as many institutions and businesses as possible,” said Todd Horvath, group president of Account Processing at Fiserv. “We are confident that the approach we are taking will simplify the task of applying for and originating a loan and get relief to business owners, employees and communities as soon as possible.”

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

Recommended AI News: Trend Micro Goes Global to Find Entrepreneurs Set to Unlock the Smart Connected World