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UiPath PPP SBA Loans Accelerator V1.0

Solution

Solution

Updated: September 24th, 2020

Published: April 11th, 2020

Enquiries: 22

Industry: finance-and-insurance

UiPath PPP SBA Loans Accelerator V1.0

Solution

Summary: 

This accelerator demonstrates the automation of Lending Process to be followed as per the PPP SBA Loans facility launched as part of the CARES Act in US.

As part of the measures to reduce impact on employees due to economic disruption from Covid-19, $350 billion Paycheck Protection Program (or PPP) SBA loans is becoming available to all businesses with fewer than 500 employees. This has given the 50-fold increase banks will have to handle 800K loans to be processed over the next two or three months.
This accelerator demonstrates automation of the PPP SBA Loan Journey and covers the following stages:

Extracting borrower information from forms such as PPP/941/940/944/1099 Misc.
Performing detailed loan verification and underwriting checks and finally
Preparing data for submission into SBA portal

Using this accelerator, overall turn around time to process SBA loans can be significantly reduced.
For questions related to this please reach out to:
1) Amit Kumar (Amit.Kumar@uipath.com)
2) Nitin Purwar (Nitin.Purwar@uipath.com)
3) Shipra Shanu (Shipra.Shanu@uipath.com)
4) Surabhi Gavali (Surabhi.Gavali@uipath.com)
5) A J Saltzberg

In order to enable partners and customers, an enablement kit has been prepared which can help in accelerating the implementation process for this automation flow. This enablement kit includes:
- Solution Workflow details and details about UiPath components required for this solution
- UiPath Workflow modules (Base XAML Packs) which can be customized to be put into production
- Instruction document to use the workflow

Details

Benefits

This solution will benefit Banks, Credit Unions, Fintech who are eligible for extending the PPP SBA Loans, by automating the Lending application process and reducing the approval times.

Compatibility

Tested with UiPath version 20.4

Dependencies

Dependent on Document Understanding Framework of UiPath