The CARES Act is the largest small business lending relief program in U.S. banking history. The Paycheck Protection Program (PPP) loan forgiveness process as part of CARES is an opportunity for banks to deliver outstanding customer service in an unprecedented time of need in which small businesses and consumers want support, clarity, and expedient outcomes.
To deliver this, it is essential for banks to have a comprehensive, customer-first mindset across the entire PPP lifecycle. Programs need to be able to rapidly scale to support unpredictable forgiveness volumes and incremental rule changes throughout the program lifecycle.
The KPMG approach includes capabilities and accelerators to help clients develop a customer-centric self-service portal that acts as an engagement layer to intake forgiveness applications. Built on the Salesforce platform, our accelerators help banks streamline the processing of Small Business Association (SBA) PPP loan forgiveness requests made by the bank’s customers who were previously provided an SBA loan.
Together with Salesforce, we can enable banks to serve their clients with the critical funding to keep their businesses running. In addition, banks can provide a lending experience that allows their clients to focus on their businesses and their people and not their loans.
KPMG Paycheck Protection Program loan forgiveness approach
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