As the CARES Act Paycheck Protection Program (PPP) moves to the loan forgiveness phase, PwC and Salesforce have teamed up on a solution to help both smaller and larger banks accelerate and simplify the process.
Quickly implement and operate the loan forgiveness process without burdening your already stretched bank resources
With $349 billion being made in forgivable loans to small businesses to pay their employees during the COVID-19 crisis, banks are getting swamped with loan apps, overwhelming demand, a short time bound process and not enough resources to get it done in time.1
PwC’s PPP loan forgiveness processing solution is a process and decision support system for intake through the disposition of PPP loan forgiveness requests, to help you navigate your customer intake, analyst processing and activity reporting related to this process.
Additionally, PwC has operations capabilities that can assist you with processing these loans as well as loan, risk management, operations and compliance specialists that can assist in resolving complex issues that you might face.
Performs completeness review, facilitates customer outreach, reviews for red-flags and calculates forgiveness amount.
Provides a deep understanding of risk controls, increases operational capacity and leverages both external and proprietary data sources.
Offers operational visibility, proactive value reporting, ongoing monitoring, risk controls and governance.
Contact us today to learn how PwC and Salesforce can help you get to market faster and enable your governance and controls, at a compelling price, especially given the short duration of the program.
1Source: US Treasury Paycheck Protection Program (PPP) Information Sheet.