Paycheck Protection Program

Overview

The PPP (Paycheck Protection Program) is one of several aid programs the SBA established to relieve businesses amid the COVID-19 crisis. Since it's go-live on April 3, banks have been overwhelmed by businesses seeking PPP loans. Many lenders, lacking a dedicated tool, are relying on spreadsheet and email to collect and process loan applications. Some larger banks have stopped accepting applications altogether. All banks, large and small, are in critical need of a structured system to process these applications from intake to approval to funding. The PPP system by NavLabs not only fills this need by leveraging Appian's case management features to collect, validate, track, and measure the life cycle of each PPP loan application, but offers extra value in purposeful KPIs, DocuSign integration, and automatic loan calculator.

The PPP system by NavLabs is a one-stop portal maintaining all essential loan interactions in one centralized location— giving applicants peace of mind and allowing bank resources to focus on higher-value activities. Gain the competitive advantage. Be remembered in your community as the bank who stepped up to save jobs in a time of crisis.

Key Features & Functionality

• Rapid deployment: same-day go-live, guaranteed
• User-friendly wizard demystifies the loan application process by guiding applicant through each step
• Intuitive interfaces and deliberate self-service features enable applicants to complete applications independently, reducing banker overhead
• One-stop portal allows applicant to view the status, file a single or multiple applications, and take action on their applications
• Record-centric design enables applicant to view application data, documents, status, and audit history in one location
• No manual account creation needed: externally-facing API allows business owners to register as applicants
• Standardized web form automates form submission, validation, and collection of required documents
• Automatic loan computation simplifies and minimizes error-prone loan calculation
• Dynamic rules systematically disqualify ineligible applicants, eliminating noise and enabling bankers to focus on higher priority applications
• DocuSign integration collects electronic signatures and manages digital transactions
• Sleek reporting provides meaningful metrics to drive banker performance
• Easily extensible system can be configured to each bank's unique requirements and existing systems
• Custom email templates communicate milestones and important information with applicants
• Application audit history tracks all reviewer and banker interactions
• Intuitive review process enables bankers to review all application documents and data in an easily digestible layout to accelerate time to funding