LITTLE ROCK, ark., January 13, 2021 / PRNewswire / – BankLabs is offering free access to Participate, its loan participation automation platform, to help financial institutions manage the influx of PPP loans. This is a historic time for banks that are actively working to serve their communities by processing loan applications for the Paycheck Protection Program as quickly as possible. In order to manage credit limits and their balance sheet, banks can issue a portion of their PPP loans. By using Particate, financial institutions can reduce paperwork and process their own loans more quickly, while quickly selling or buying holdings with other financial institutions.
How participation helps
Participating improves efficiency, saves money and can help manage credit concentration risk. Participate is a single platform to manage all loan holdings, existing or new, bought or sold. It enables originators and participants to digitize and share credit information and documents, automate workflows and sign electronically. Participate cuts weeks off the traditional process and gives banks the additional liquidity and flexibility they need to serve their communities.
BankLabs is committed to creating digital platforms that streamline lending processes for financial institutions so you can get back to what really matters – serving your community.
BankLabs and Participate are trademarks of BankLabs in The United States.
BankLabs offers free access to software for processing PPP loans