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Today In Payments: Fed Plans New Facility For SMB PPP Loans; SBA Computer Crash Tangles PPP Loan Process

Not all businesses can produce masks or ventilators, but FinTechs are in a unique position to help extend relief to coronavirus-impacted SMBs.

Bottomline Technologies CEO Rob Eberle told Karen Webster how his company came to launch a solution designed to ease the PPP loan-application burden and how B2B FinTechs can help more broadly as massive disruptions force firms to prioritize payments and finance digitization.

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Check out the latest PYMNTS Masterclass featuring Norm DeLuca, Managing Director of Banking Solutions

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Bottomline To Assist Small Businesses Applying for Funding

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.

Bottomline CEO: How FinTech Gets Creative to Extend Coronavirus Relief

PYMNTS features Bottomline CEO, Rob Eberle in a conversation about what the company is doing to launch a solution designed to ease the SBA loan application burden on both banks and small businesses.

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