DALLAS–(BUSINESS WIRE)–Long-time global leader in credit risk management and digital lending, GDS Link, has announced the launch of an online digital loan application for the U.S. Government Payroll Protection Program. The app will allow banks to immediately support their small business customers with a digitized lending experience, removing the need to complete a paper application or apply at a physical branch.
The GDS Link solution is fully compliant with all loan application requirements as required by the federal government. The app includes strong fraud detection capabilities, leverages bank transaction data for additional KYC checks, allows uploading of required documents, calculation of loan amount based on eligibility, and more.
“GDS Link is a valued partner in the lending space. As such, it is important for us to help the banking community through this unprecedented time. This platform will enable banks to reach their customer base immediately from SMEs through a streamlined, mobile-ready online application process to get funds into the hands of the small businesses they serve.The current crisis has reinforced the need for banks to accelerate their move from brick to click, and our solution is an important step in that journey,” said GDS Link CEO Paul Greenwood.
The CARES Act expands the ability to get loans under Section 7(a) of the Small Business Act through a new $349 billion Paycheck Protection Program. Under the program, a number of businesses will be eligible for these loans, including small businesses, non-profit organizations, independent professionals, sole proprietors and independent contractors, as well as businesses in the manufacturing sector. accommodation and food services and veterans organizations with less than 500 employees per year. location. Loans can be used to cover payroll, healthcare costs, mortgage interest payments, rent and utility payments, and interest on pre-existing debt. The loans are available to eligible borrowers under the program until June 30, 2020.
About GDS link:
GDS Link is a global leader in credit risk management, providing bespoke software solutions and analytical and advisory services. Our client-centric risk management and process automation platforms are designed for the modern lender in their quest to capitalize across the entire credit lifecycle. By offering a personal, consultative approach and leveraging our own industry-leading knowledge and expertise, GDS Link’s solutions and services deliver exceptional value and proven results to thousands of clients around the world.
