Do you have 10 minutes?
That's all it will take to listen to this CU2.0 Fast Take on PPP Loan Forgiveness, a topic that suddenly is bedeviling thousands of credit unions as they confront the reality of how time consuming it is to navigate the loan forgiveness process.
Make no mistake: you want to get that loan forgiven. Best guesses are that many of the loans that aren't forgiven will in fact default.
You don't want that on your books.
How long does the loan forgiveness process take a credit union that manually tackles even loan? Figure 10 to 20 hours.
That cannot work on a $100,000 or $50,000 loan.
No way.
Enter Capiform, where CEO Sherif Hassan tells in this Fast Take how to get the credit union staff time down to a few minutes, maybe an hour, max, per loan forgiveness application.
The secret: Capiform screens that guide the borrower as he/she inputs the needed data.
Call it a Tom Sawyer moment of brilliance.
And Capiform gamifies the process so it almost becomes fun for the borrower.
10 minutes. Spend them wisely. Listen up.
Hear the full length Capiform podcast here.
Want more info? Contact Capiform at its website.
Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com
Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto