Credit unions have stepped up for small businesses during the pandemic. They should continue the trend.
Credit Unions are behind on several key trends—especially when it comes to technology. One the one hand, credit unions must balance technological needs with service, growth, and profit. Yet those needs sometimes compete with outside factors such as fintechs, compliance, IT security, and ever-changing regulations.
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!
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:
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: