How Covid-19 is an opportunity for small banks to modernize technology
Today, we’re excited to share how Boilerplate’s automated file collection platform is helping lenders process PPP forgiveness applications seamlessly and securely. By now, you’ve heard of the U.S. Paycheck Protection Program’s Covid-19 relief effort, totaling over $500 billion and 4.3 million loans. The program requires borrowers to submit the Small Business Administration’s loan forgiveness application and supporting documentation to their lenders. For lenders, this means manually sorting through a flood of documents, often with no additional revenue. That’s why we’re partnering with lenders to streamline manual processes in requesting, collecting, and tracking documents for PPP forgiveness.
Boilerplate’s turn-key file collection replaces email submissions with secure digital checklists for clients, plus automatic file renaming, organized storage, and real-time tracking for lenders. Our cloud-based platform makes it possible to start collecting documents quickly, white-labeled with custom colors and logo. We’re proud to help enable lenders to spend more time talking to their customers — while we handle the back-end.