NYMBUS continues to help financial institutions and small businesses respond to the impact of COVID-19 through its SmartLenders Program that provides the fastest processing of Small Business Administration (SBA) Paycheck Protection Program (PPP) guaranteed loans. With Congress ready to make an additional $310 billion in PPP loan funds available, the urgency has never been greater to place this vital cash-flow relief into the hands of more of the nation’s small business owners.
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“Our goal with SmartLenders is to move as rapidly as possible to help every small business in the United States to stay afloat and protect jobs”
NYMBUS stood up the SmartLenders Program as soon as Congress first passed the CARES Act on March 27. Understanding that these federal funds are available only on a first-come, first-served basis, SmartLenders helps level the playing field by making the PPP loan process simple and fast for any small business to immediately apply here online.
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The Program has quickly built an extensive network of institution partners including billions of dollars in lending capability to assist local communities. Participating banks and credit unions are simply provided a unique referral website address where their small business customers can enter the SmartLenders portal to submit and instantly process PPP applications. The bundled solution handles all of the required technology and full-service remote processing on behalf of the institution at zero cost. This includes automating the requests, collecting required documentation, end-to-end processing, and communication and forgiveness of the loan. The Program also includes a full team of SBA-experienced banking and legal experts to manage the process and ensure adherence with all banking and SBA compliance requirements.
“Our goal with SmartLenders is to move as rapidly as possible to help every small business in the United States to stay afloat and protect jobs,” said Scott Killoh, CEO and Chairman of NYMBUS. “No small business owner should have to feel overwhelmed or underserved. Applications are being accepted today through our portal, and we are here to assist any financial institution with their PPP applications high demand or overflow.”
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