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How Evolve Bank used Middesk and Alloy to accelerate PPP loan processing
When the $349 billion Paycheck Protection Program (PPP) launched, Evolve Bank needed to move fast to get their customers much-needed loans. Evolve integrated with Middesk and Alloy to cut their application turnaround from hours to minutes, while other banks lagged behind.
What's Inside
Fintech companies Middesk and Alloy worked with Evolve Bank to tackle a unique challenge: processing thousands of loan applications to ensure struggling small businesses would get a PPP loan. Evolve Bank needed to move fast, but couldn’t sacrifice accuracy. Middesk runs every business through a comprehensive sanctions list, and directly verifies a company’s standing with all 50 Secretary of States in just minutes. Through Alloy, Evolve Bank was able to submit businesses to Middesk in just a couple of days. Learn how Middesk can dramatically reduce loan processing times and accelerate your company’s growth, without sacrificing compliance.Explore the next generation of business identity solutions
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