Still thinking about how to keep the doors open and employees paid?
Across the US businesses have taken part in The Paycheck Protection Program. The program has been extended and is now accepting applications. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020. These loans could qualify for forgiveness if all requirements are met.
Lenders faced a steep challenge with the next phase of the CARES Act’s Paycheck Protection Program (PPP) with a high volume of applicants. As borrowers apply for loan forgiveness, PPP lenders will be processing applications and collecting supporting documentation. They’ll also be calculating loan-forgiveness amounts and servicing the unforgiven portion as loans to be paid back within two years.
Learn how Cognizant Technology helps lenders create a platform for a better customer experience through digital technology.