Published April 24, 2020
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law in the U.S. This includes the Paycheck Protection Program (PPP)—a Small Business Administration (SBA) loan designed to provide relief to small businesses during the COVID-19 pandemic.
While initial PPP funding was exhausted after just two weeks, given the dire need of small businesses around the country, Congress partially approved another round of funding on April 23. This means banks and credit unions that aren’t yet facilitating these loans still have time to assist their small business customers and members—but need to act fast.
NCR has partnered with MX to facilitate and speed applications. If you’re an NCR banking client, you can make PPP loan applications available for your small business customers using MX’s solution. Participation is optional—to enroll, email MX directly at email@example.com.
MX is also offering free source code if your bank or credit union wants to build your own application portal. You can also have MX host it for a hosting fee. If you choose MX to host the application, you’ll receive a unique URL to promote and share it.
Use the marketing tools in your NCR Digital Banking platform or our free marketing resources to promote your application to your small business customers. You can also use NCR Promotion Suite Premium to publish a banner ad about your PPP application in your online banking portal or mobile app. Don’t forget to use your social media channels and website to promote it, too.
To learn about additional digital banking features and experiences NCR can help you offer to your customers or members, visit NCR.com/banking/digital-banking. For additional COVID-19 resources, visit NCR.com/coronavirus.