SBA PPP Lending Solution Loan Forgiveness and Servicing

[Pages:23]SBA PPP Lending Solution ? Loan Forgiveness and Servicing

CARES Act ? Small Business Administration Paycheck Protection Program

June 10, 2020 Teleconference: 888-398-1314; passcode 4607145

Presenter

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Dan Ulrich

Director, Client Solutions Consulting

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Forgiveness Management with SBA PPP Lending from Fiserv

1

Engagement

2

Application

3

FI Review

4

SBA Approval

5

Onboarding

6

Disbursement

7

Servicing

1

Online Banking

1

Secure Forms

1

PPP Workflow

1

E-Tran Submission

1

Document Preparation

1

1

ACH, Check, PPP Loan Direct Deposit Forgiveness

PPP Loan Core Onboarding

SBA 1502 Reporting

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Fiserv SME Guidance

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Streamline Forgiveness Management Leveraging Fiserv Technology and Expertise

Outreach and Education

Applicant Portal

FI Portal

SBA Communication

Servicing

? Borrower outreach and engagement

? Comprehensive resource center

? Secure online portal for small business and FIs

? Simplified Forgiveness Application and worksheets

? Digital document upload and verification checklists

? Core provider relationship to align data elements

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Fiserv Is a Proven Partner For SBA PPP Lending

200,000

SBA PPP loans on Fiserv cores

99% Success rate on E-Tran application submissions

Differentiation Value

Total Economic Value

- Compliance - Borrower Experience

- Opportunity Cost

Average ROI

>400%

Solution Fees

- Processing Time

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SBA PPP Loan Forgiveness Application Released May 15th

PPP Loan Forgiveness Application release included:

? Options to align coverage period to regular payroll cycles

? Step-by-step instructions to calculate forgiveness amount

? Implementation of forgiveness reduction exemptions based on rehiring by June 30

? New exemption for good-faith rehiring offers that were declined

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SBA Rules for PPP Forgiveness Process and Lenders' and Borrowers' Responsibilities Released on May 22nd

Borrowers Must

? Provide an accurate calculation of the forgiveness amount

? Attest to the accuracy of reported information and calculations

Lenders Must

? Confirm receipt of the borrower's certifications

? Confirm receipt of the borrower's documentation

? Perform a good-faith review of the borrower's calculations and documents

Fiserv is not providing legal advice and you should consult with your legal and compliance experts with regard to SBA guidance.

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UPDATE ? New Legislation Easing Rules for SBA PPP Borrowers

New Terms Signed Into Law on June 5th:

? Borrowers have 24 weeks to spend PPP funds

? Only 60% of the loan needs to be spent on payroll, not 75%

? Covered period of the loan now ends Dec. 31

? Borrowers don't have to make employer payroll tax payments through the end of 2020

? Borrowers do not lose loan forgiveness eligibility if employees decline to return or pre-pandemic headcount is no longer required

? Payback period for new loan applicants is extended from two years to a minimum of five for those not seeking or ineligible for forgiveness

Fiserv is not providing legal advice and you should consult with your legal and compliance experts with regard to SBA guidance.

8 ? 2020 Fiserv, Inc. or its affiliates. | FISERV CONFIDENTIAL

FORTUNE World's Most Admired Companies? 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020

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