Community banks prepare for the second tranche of SBA PPP loans with a “plug-and-play” FinTech solution for automating loan applications
FINSYNC, Inc., a leading provider of payment technologies and cash flow management software, continues its momentum in partnering with small and local lenders to provide their business borrowers with significantly faster loan processing and funding for the SBA’s Payroll Protection Program (PPP) via a “plug-and-play” online loan application and Lender’s Portal.
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Community banks prepare for the second tranche of SBA PPP loans with a “plug-and-play” FinTech solution for automating loan applications.
“The first $349 billion was applied for and allocated in less than 14 days because speed of processing is the key to this first-come-first-served funding for small businesses,” said Eddie Davis, Sr. VP Sales & Operations. “Now Heritage Bank is well prepared to service all of their small business customers by taking the strategic step of adopting our technology.”
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Heritage Bank Partners with FINSYNC
“When the COVID-19 crisis hit, and the CARES Act passed, we knew we needed to get engaged and help our customers with the relief that’s available to them through SBA’s Payroll Protection Program (PPP),” said David Crow, Clayton County President, Heritage Bank.
“We put people and processes in place and have been working around the clock to keep up with demand. Now that the SBA has, hopefully just temporarily, halted approving new loan applications, we are ramping up efforts internally to support this program more efficiently so when the SBA resumes funding, we’ll be ready to take care of our customers more quickly.”
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