Bottomline Technologies (Nasdaq:EPAY), the cloud-based business payment, invoice, and digital banking solution provider, has announced an initiative to help the nation’s banks provide assistance and relief to small businesses adversely affected by the COVID-19 pandemic. The New Hampshire-based provider will provide banks with a simplified SBA loan application platform to originate online loan applications under the “Paycheck Protection Program”. Bottomline is making this platform available to any bank at no cost.
For banks providing SBA loans under the “Paycheck Protection Program”, Bottomline is offering a technology platform for simplified loan origination, specifically tailored to the U.S. Small Business Administration (SBA) application requirements. The platform provides a pre-configured application workflow and intuitive user experience. While loans and emergency funding are essential for the survival of many small businesses, providing access to those programs and funds can be a challenge for banks particularly at a time when visiting physical branches is interrupted or limited. To help with this challenge Bottomline will provide its digital business account opening, fraud management and onboarding platform, free of charge, to banks serving small business customers, helping them deliver digital access to the critically needed SBA guaranteed funding programs.
“We saw an opportunity to help in this crisis,” said Rob Eberle, CEO, Bottomline Technologies. “We are not set up to sew masks or to manufacture ventilators. We do have technology that can help provide funding to the 30 million impacted small businesses that are so vital to the country’s economy and its employment. We are making this technology available free of any charges or cost. This is our small part in standing up to this unprecedented global challenge. We hope others will find a way to do the same.”
Banks interested in leveraging Bottomline’s SBA loan application and digital access solutions can contact SBARelief@bottomline.com.
