FinTech company collaborates with banks to provide support for small business lending
Baker Hill, the leading financial technology provider in delivering solutions for commercial, small business and consumer loan origination, risk and relationship management, CECL, and analytics, is partnering with various banks to expedite the process of Paycheck Protection Program (PPP) loan forgiveness. The Baker Hill NextGen Forgiveness solution is a single solution designed for the management of PPP loans and the required documents.
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Institutions such as Home Bank are leveraging the NextGen® Forgiveness solution to keep the relief and aid coming to its customers and communities. “Home Bank chose to implement Baker Hill’s PPP solution as a supplement to our existing Baker Hill product,” said Barry Burns, VP of Business Systems & Process Manager for Home Bank. “We recognized the benefits it would bring not only to our staff, but most importantly to our customers. After implementation we were able to submit over 1,300 loans in a single day, exceeding what took more than a full week to do before. Baker Hill’s quick response to a pressing need better enabled Home Bank to meet our customers’ expectations in this very critical time.”
Institutions like Pathfinder Bank were also quick to leverage the Baker Hill NextGen® Forgiveness solution, as it seamlessly integrates with its existing Baker Hill NextGen® module. With the upcoming deadlines from the Small Business Administration regarding PPP loan relief approaching quickly, Pathfinder Bank was able to confidently decide to move forward with Baker Hill.
“We know how important it is for our clients to be able to serve their customers during this period,” said John Deignan, president and chief executive officer at Baker Hill. “Supplying a solution to fit the needs of our customers that could be implemented quickly was crucial to getting loan relief into the hands of those that need it.”
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