The Small Business Administration launched its Paycheck Protection Program loans more than a week ago and banks have been racing to keep up with the volume ever since. Rapidly deployed automation technologies are helping community and regional banks keep up with the deluge of applications.
PORTSMOUTH, NH - Bottomline Technologies (NASDAQ: EPAY), a leading provider of financial technology that makes complex business payments simple, smart and secure, today announced an initiative to help the nation’s banks provide assistance and relief to small businesses adversely affected by the COVID-19 pandemic. Bottomline will provide banks with a simplified SBA loan application platform to originate online loan applications under the “Paycheck Protection Program.” Bottomline is making this platform available to any bank at no cost.
A slew of fintechs are selling software solutions to lenders grappling with the influx of applications for emergency small-business loans. American Banker highlights those providers including Bottomline Technologies.
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