Paycheck Protection Program (PPP)

Helping you navigate the lending journey

As lenders face record demands surrounding forgiveness requests under the US CARES Act, EY teams have developed an intuitive and educational platform using Microsoft Azure and Power Apps Platform that supports both banks and borrowers as they navigate through the lending journey.

The EY US Paycheck Protection Program Loan Forgiveness Platform, an intuitive and educational platform using Microsoft Azure and Power Apps Platform, offers capabilities to help manage the risk and cost of collecting and validating information to support PPP loan forgiveness. For banks, this means confidence in delivering the end-to-end loan forgiveness process in an efficient manner. For borrowers, this entails an elevated digital user experience allowing for monitoring of their loan forgiveness status and self-service submission of documentation during the coverage period in order to efficiently manage their portfolio of loans.

This platform is supported by sophisticated calculators and processing rules, embedded intelligence and automation, and US Small Business Association (SBA) integration, which is maintained by tax, risk, compliance and technology professionals to evolve with PPP guidance resulting in a highly accurate, automated and efficient offering.

The Microsoft Power Apps experience rapidly helps enable critical processes for lenders and borrowers as they navigate the forgiveness journey. For banks or lenders, it satisfies the loan requirement of tracking expenditures, facilitates the collection of borrower information as part of the forgiveness calculation, eliminating additional customer requests and automates amendment of forgiveness amount, including reduction of forgiveness adjustments based on itemized expenditures.

Your customers will benefit from real-time calculation of eligible loan and forgiveness amount, easy-to-track permissible disbursements, transparency on adjustments, and reduction of forgiveness amounts.

Benefits of the EY Paycheck Protection Program Loan Forgiveness Platform:

• Highly automated offering features digital borrower application with self-service document submission provides broad forgiveness support
• “Borrower-first” experience provides branded customer education and FAQs, intuitive user experiences, and on-screen assistance – enriching current company website content
• Up-to-date forgiveness calculation engine is actively maintained as program guidance evolves by our team of tax industry professionals
• Built-in audit trail functionality helps evidence prudent risk management and transparency throughout the experience
• Business intelligence includes operational, exception and management reporting
• Hosted offering gets you in the market with a modular, Microsoft Azure-based platform with hosting and service integration by Ernst & Young LLP

Features of the EY Paycheck Protection Program Loan Forgiveness Platform:

• Customized service: a personalized web portal with secure login capabilities, transparency on adjustments and expenditures
• 24/7 support: knowledge and community forums, and direct inquiry submissions to subject matter experts
• Adaptable: adjusts to meet evolving regulatory updates and clarifications to the U.S. Small Business Administration (SBA) provisions
• Scalable: supports large volumes of borrowers and data
• Workflow efficiency: controls the end-to-end review process of all forgiveness requests (especially important with a geographically disbursed workforce) and reduces redundant information collection
• Compliance: manages disbursements and maintains compliance through the loan life cycle
• Controlled environment: integrated, real-time forgiveness calculation, detailed audit trail, storage, and easy-to-track data and documents