In the wake of the COVID-19 crisis, Kasasa®, an award-winning financial technology and marketing provider, has developed a four-step online Paycheck Protection Program (PPP) SBA loan application for community banks and credit unions to aid small businesses facing repercussions of the pandemic.
According to the National Federation of Independent Business, 92% of small businesses have been negatively impacted by the outbreak of the coronavirus. In effort to combat those affected by COVID-19, the U.S. Small Business Administration has developed an SBA loan that provides a direct incentive for small businesses to keep their workforce on the payroll during the crisis. The program is available through June 30, 2020.
Kasasa created its rapid-launch SBA loan application in response to community banks’ and credit unions’ need to support the small businesses that drive local economies. Easily set up on a client’s website in three to five business days, the solution collects all required information and documents needed for the SBA stimulus loan, ultimately easing the burden on financial institutions’ staff and enabling business owners to apply completely online.
“With all the uncertainty surrounding the pandemic followed by the recent launch of the SBA paycheck protection program, our clients need a quick, simple, secure way to serve the small businesses in their communities,” said John Waupsh, Chief Innovation Officer of Kasasa. “It’s never been more important to help local businesses care for their employees. These are critical days, and the window to apply for a PPP SBA loan only lasts through the end of June.”
Waupsh continued, “The speed and efficacy with which banks and credit unions must meet the evolving needs of their communities can be overwhelming, but we’re doing our best to make it easy for local financial institutions to create and reinforce a strong digital retail presence while we remain separated by social distancing.”
The new digital application works with Kasasa FIRSTBranch® websites and for those who have their own hosting abilities. Kasasa’s support team is standing by to help its clients add this application to their sites.
Based in Austin, Texas with 450 employees, Kasasa® is a financial technology and marketing provider committed to driving results for over 900 community financial institutions by attracting, engaging, and retaining consumers. Kasasa does this through branded retail products, world class marketing, and expert consulting. For more information, please visit www.kasasa.com, or visit them on Twitter or LinkedIn.