Main Street Bank Handles Nearly 500 PPP Loans in 5 Days Using Abrigo’s Sageworks SBA Lending Solution
Main Street Bank Handles Nearly 500 PPP Loans in 5 Days Using Abrigo’s Sageworks SBA Lending Solution
2 Pagesabrigo.com AUTOMATING PPP LENDING WITH SAGEWORKS SBA SOLUTION When the Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law, it included $349 billion for an expanded Small Business Administration (SBA) 7(a) loan program, the Paycheck Protection Program (PPP), which was designed to get working capital to small businesses and fund payroll costs. The PPP has been a fast-moving target for financial institutions trying to implement it. Continuous updates and guidance changes have left many financial institutions scrambling or not participating at all. Some institutions, however, have risen to the challenge of supporting their local small businesses and have found a partner to help navigate the ever- changing program. After learning Abrigo had modified it
