Newgen’s PPP Loan Origination Software for “Economic Aid Act” and Q&A

The US Treasury released the Interim Final Rule on Paycheck Protection Program (PPP) as amended by the “Economic Aid Act” on Jan 7, 2021. With various changes being made in the eligibility criteria, loan amount, and small business administration (SBA) portal submission, is your financial institution ready to seamlessly originate the PPP loans?

Newgen is on top of the changes, including the updates on the separate SBA portal and new integration APIs.  Newgen’s comprehensive system can help you avoid the complexities related to SBA PPP loan processing and deliver a superior customer experience.

Join this webinar to gain detailed insights into PPP changes, Newgen’s PPP solution, followed by an interactive Q&A session. 

A lot of your peers have already leveraged Newgen’s Loan Origination Software for originating loans under the “Economic Aid Act”. The solution streamlines the end-to-end lending lifecycle, including online applications, back-office processing, API-based SBA portal integration, and loan forgiveness processing.

Newgen’s Solution - Core Features

• Compliance adherence with the SBA guidelines per the “Economic Aid Act”
• Omnichannel and self-service portal for PPP loan and forgiveness applications
• Pre-filled applications for existing PPP recipients and existing customers
• Automated eligibility checks per SBA guidelines
• eSign integration with DocuSign and Adobe Sign for loan application and closing documents
• Real-time API-based integration with the new SBA portal with updated APIs
• Queue-based workflow application review, underwriting, documentation, and booking
• Exception handling and automated communication with borrowers on the status update
• Seamless document generation using the Newgen solution or through integration with LaserPro
• Real-time reporting on requests, exceptions, approvals, and booking
• Integrated PPP loan forgiveness module
• Cloud-based deployment quick deployment within days