SBA’s Paycheck Protection Program (PPP) was expedited into execution to protect millions of small business enterprises through the COVID-19 shutdown. SBA is leaning on PPP lenders to provide verification and validations for PPP funds usage.
PAYFOR is a digital AI solution created by CirrusLabs and FIRM Advisors that will:
PAYFOR provides banking and financial institutions the ability to independently document traceability, calculations, verification, and validation of “forgiveness” calculations claimed by borrowers vs. uploaded documents. `
Benefits of PAYFOR:
DESIGNED FOR BANKS AND CREDIT UNIONS
PAYFOR is specifically designed for BANKS and CREDIT UNIONS to save time and money in the verification process while providing a detailed audit register for compliance. The key aspect is that we source the data for the form and make it easily verifiable – a big win for both you as the lender and for your small business client.
PAYFOR is created in partnership with FIRM Advisors.
Combining a full-service digital transformation company with a multi-disciplinary financial services advisory firm allows us to provide cutting edge automated solutions tailored to the banking industry, improving functional efficiency while simultaneously reducing risk.