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To help expedite the processing of loans under the CARES Act Paycheck Protection Program (PPP), Moody’s Analytics has made its small business loan application and lending portal available to lenders for free.
The portal captures borrowers’ loan application information—including the information required by the Small Business Association under the PPP—and generates a risk and compliance assessment, helping accelerate the review process.
In addition to trusted credit scoring, the portal offers Know Your Customer (KYC) check functionality that lets lenders quickly screen out fraudulent applications. This functionality is available through the industry-leading customer screening capabilities provided by RDC, a Moody’s Analytics company.
“Lenders are facing unprecedented challenges in processing the volume of PPP applications and need a solution that is ready now. Our online portal helps banks onboard new customers, where the underwriting process tends to be more resource intensive.”
Visit the Free Online Portal for PPP Loans.
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