The Paycheck Protection Program Flexibility Act of 2020 brings new guidance to the loan forgiveness process. The new act introduces leniency in the form of extended loan periods and new standards for employee compensation.
But despite this new flexibility, the hard part is still to come:
Handling forgiveness requests will be tedious, complex, and difficult. However, it doesn’t have to be. Credit unions can simplify the PPP loan forgiveness process for their small business members with member-driven design elements:
- Streamlined, intuitive UI/UX
- Transparency and gamification
Join Capiform and CU 2.0 for a webinar to discuss updates in documentation and submittal, automation opportunities, and improving the member experience. View the recording here!
Continue reading “PPP Loan Forgiveness Updates and Automation Opportunities – Webinar”
Do you need a fast, scalable, PPP loan forgiveness platform?
Learn how to create a member-driven process for PPP loan forgiveness. In this webinar, Capiform and CU 2.0 will discuss:
- Required documentation and calculator
- Process automation opportunities
- How to provide a friendly, member-driven experience throughout
Do your small business members know what documents and information they’ll need to secure PPP loan forgiveness? And does your credit union have a process in place to help them achieve it?
This short webinar covered the basics.
Check out the recording of the webinar here:
Want a closer look at the platform?
54% of small businesses expect their Paycheck Protection Program loan forgiven according to a recent survey by the National Federation of Independent Business.
In this webinar Capiform and CU 2.0 discussed:
- How technology can help credit union’s face the challenges associated with the administration, audit and forgiveness stages of the Paycheck Protection Program loans.
- How to provide a member driven, user-friendly way for members to update their required documentation and securely interact with the credit union during this critical time.
The info covered in this webinar is a must-know for Credit Unions with a portfolio of PPP loans.
Watch the recording here:
If you’d like to learn more about Capiform’s PPP forgiveness solution, you can book a demo here!
Although we’re not quite halfway through the year yet, January this year feels like a lifetime ago. With the Covid-19 pandemic, everything changed. So, given that credit unions have been closing branches, digital channels reign supreme, and members have dealt with threats to their lives and livelihoods…
Now’s a great time to look at our predictions at the beginning of the year to see what changed.
Read on to see seven technology trends that credit unions should keep a close eye on (especially in the face of the coronavirus).
Continue reading “2020 Credit Union Technology Trends to Watch”
As of this writing, the COVID-19 quarantine appears to have flattened the curve somewhat and discussions have shifted to how things will reopen. Many credit unions have been in crisis management mode for many weeks, and while they have felt the impacts on day to day operations with branch closures and remote workers, the financial and budget impacts are just now beginning to be felt.
The immediate future is uncertain, and yet credit unions must plan and execute to keep our business, communities, and members’ lives moving forward. Many of the credit union leaders have spoken about the stressful challenges of balancing member, employee, and credit union needs in this chaotic time.
This guide has some suggested methods that we have found in various circumstances and organizations over many years at credit unions, startups, and mature companies. These approaches have helped us navigate previous recessions as well as other business interruptions or market changes.
Continue reading “Credit Union Recession Guide”