Kasasa has developed a four-step online Paycheck Protection Program (PPP) Small Business Administration (SBA) loan application for community credit unions to aid small businesses facing repercussions of the pandemic.
Easily set up on a client’s website in three to five business days, the solution collects all required information and documents needed for the SBA stimulus loan, ultimately easing the burden on financial institutions’ staff and enabling business owners to apply completely online.
Kasasa created its rapid-launch SBA loan application in response to credit unions’ need to support the small businesses that drive local economies.
“With all the uncertainty surrounding the pandemic followed by the recent launch of the SBA paycheck protection program, our clients need a quick, simple, secure way to serve the small businesses in their communities,” says John Waupsh, chief innovation officer of Kasasa. “It’s never been more important to help local businesses care for their employees. These are critical days, and the window to apply for a PPP SBA loan only lasts through the end of June.”
The speed and efficacy with which credit unions must meet the evolving needs of their communities can be overwhelming. Kasasa continues to work hard to make it easy for local financial institutions to create and reinforce a strong digital retail presence while the country remains separated by social distancing.
In fact, new consumer research from Kasasa shows that online account openings for community financial institutions across the nation have increased by 14.5%. With Kasasa’s latest addition to its arsenal of digital assets, INMO+, credit unions can offer members an integrated, seamless, and secure digital account opening process.
Paired with a Kasasa FIRSTBranch website, credit unions have both a compelling website and a streamlined account opening process. When credit unions implement Kasasa’s digital support offerings, they go through a phased approach in order to meet consumers’ needs as quickly as possible. In as little as three weeks, credit unions can implement INMO+ online account openings via the Kasasa app.
In the next phase, Kasasa goes through a streamlined deployment so that a credit union’s most popular accounts can be opened digitally. This process can be completed in 60 to 75 days.
The final phase includes INMO+ customizations, add-ons and core integrations, which will benefit credit unions long after the pandemic subsides.
Kasasa is currently offering bundle pricing on this phased approach to provide relief to credit unions. “We developed INMO+ and FIRSTBranch so that community financial institutions can give their customers the ultimate account opening experience, no matter where they are,” says Waupsh. “By creating visibility through our marketing services and the digital tools consumers desire, we can help local financial institutions better support the communities they love through this pandemic.”
For more information, contact Jenny Jackson at email@example.com.
Kasasa is a CUNA Strategic Services alliance provider.