FINBOA Small Business Administration Paycheck Protection Program Solution

April 9, 2020 – FINBOA Workplace, a process automation platform headquartered in Houston, Texas, announces the Small Business Administration (SBA) Paycheck Protection Program (PPP) Application Solution that allows Community banks and credit unions to take SBA PPP Applications digitally from their customers.

The new Government CARES Act set aside $2 Trillion to help businesses with the impact of COVID-19.  Banks are the intermediaries in this effort to provide funding to small businesses nationwide.  Due to shelter in place or stay at home directives, many bank customers can’t visit branches to initiate loans or sign paper forms. As a consequence of this radical acceleration of remote work, the banking industry cannot take these applications in a safe and efficient manner.

FINBOA built a digital solution for intake and processing of SBA Loans on their extensible, Workplace Platform. Institutions can simply sign-up with FINBOA and get setup quickly and easily at no cost. The cloud-based FINBOA Workplace Platform offers secure, encrypted transmission of relevant documents, accepts digital signatures with a legal consent form, and consolidates all forms in one convenient location.

“As a small business, we wanted to do our part to help other small businesses like ourselves get the funding they need.  We realized our software can help banks manage the paperwork deluge as they weather this massive storm.” said, Raj Singal, VP of FINBOA.  “It can take banks thousands of dollars and many weeks and months to set up digital solutions.  Our solution is pre-built and can be rolled out for a bank with their logo quickly and easily.”

For more information, please contact FINBOA at Toll Free Number 866-218-4096 or sales@finboa.com