{"id":412162,"date":"2021-01-11T09:33:51","date_gmt":"2021-01-11T14:33:51","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=412162"},"modified":"2021-01-11T09:33:51","modified_gmt":"2021-01-11T14:33:51","slug":"financial-institutions-can-streamline-new-round-of-ppp-lending-with-fiserv","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/financial-institutions-can-streamline-new-round-of-ppp-lending-with-fiserv\/","title":{"rendered":"Financial Institutions Can Streamline New Round of PPP Lending with Fiserv"},"content":{"rendered":"

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Financial Institutions Can Streamline New Round of PPP Lending with Fiserv<\/b><\/p>\n

Banks and credit unions can connect small businesses to needed funding with streamlined end-to-end lending solution<\/i><\/p>\n

BROOKFIELD, Wis.–(BUSINESS WIRE<\/a>)–Fiserv, Inc.<\/a> (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, is ready to help financial institutions facilitate paycheck protection loan applications and service loans made through the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). New funding for the program was signed into law on December 27, 2020.\n<\/p>\n

\nFiserv has enabled PPP lending since the initial round of funding was made available in early 2020, and has remained engaged with the SBA as application, eligibility and submission requirements have been finalized for this latest round. Accordingly, Fiserv will offer an updated, streamlined platform that takes any adjustments into account, with the goal of expediting the nationwide process of delivering needed funds to small businesses.\n<\/p>\n

\nIn 2020, Fiserv worked with hundreds of financial institutions across the United States to help facilitate more than 100,000 loans to small businesses and has helped many of these organizations navigate the complex PPP loan forgiveness process, earning positive feedback from clients.\n<\/p>\n

\n\u201cEverything is online, easily stood-up, and intuitive,\u201d said Richard Olson, senior vice president at Envision Bank. \u201cThe flows make sense and are completely logical for the bank customer and banker. That just makes everyone\u2019s job easier and experience better.\u201d\n<\/p>\n

\nFiserv is providing PPP lending support in conjunction with StreetShares, which offers business lending solutions technology to allow community banks and credit unions to affordably make small business loans with a 100% digital, omni-channel experience.\n<\/p>\n

\nFiserv also recently announced<\/a> a program to provide free and lower-cost PPP forgiveness applications to Minority Depository Institutions and minority-owned businesses, and will also offer MDIs free and lower-cost access to this new end-to-end PPP offering.\n<\/p>\n

\n\u201cOur team has been working incredibly hard to ensure immediate access to this next round of funding for as many institutions and businesses as possible,\u201d said Todd Horvath, group president of Account Processing at Fiserv. \u201cWe are confident that the approach we are taking will simplify the task of applying for and originating a loan and get relief to business owners, employees and communities as soon as possible.\u201d\n<\/p>\n

\nIn a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today \u2013 financial services at the speed of life. Learn more at fiserv.com<\/a>.\n<\/p>\n

Additional Resources:<\/b><\/p>\n