The New York Credit Union Association recently partnered with Alpharank, a best-in-class solution for member journey mapping and attribution. Alpharank provides a no-code solution for credit unions to help with digital performance, conversions in online account opening, loan origination and Paycheck Protection Program loan forgiveness.
The Small Business Administration’s Paycheck Protection Program was rolled out in March, as businesses across the country grappled with the coronavirus pandemic. However, the program has made headlines for its sometimes onerous or unclear requirements. In particular, the requirements surrounding the loan forgiveness process has led to confusion for lenders and borrowers alike.
Alpharank’s automated PPP forgiveness platform walks borrowers through the entire forgiveness reporting process in simple steps, accurately gathering pertinent documentation and linking it to financial statements provided by the credit union, thus reducing the potential for fraud.
Approximately 40 credit unions in New York have offered businesses loans under the PPP, and questions surrounding the forgiveness process have been common.
To help credit unions better understand Alpharank’s product and the loan forgiveness process, the Association and Alpharank hosted a joint webinar on June 23. To access the recorded webinar, visit the Association’s website.