Supporting Small Business with the Paycheck Protection Program
Project Overview
With small businesses around the US starting to feel the pain of quarantine and lockdown due to COVID-19, the government launched the Paycheck Protection Program (PPP) in partnership with the Small Business Association (SBA). The government’s roll out of the program was a mess from the start with no clear guidance on eligibility, fair-lending, anti-money laundering, or loan forgiveness. Still, understanding the positive impact these funds would have on businesses, OnDeck worked hard to navigate the ups and downs of the government’s rollout, partnering with Fifth Third Bank and Customers Bank to launch their Paycheck Protection Program.
Through this effort, OnDeck was able to support thousands of small businesses, funding millions of dollars in capital and getting the much needed funds into the hands of those small businesses that needed it most.
My Contributions
Scoped and launched supporting the Paycheck Protection Program on OnDeck’s existing loan servicing platform.
Ensured support of both new and existing OnDeck customers.
Enabled thousands of small businesses to receive much needed funding.
