SBA Paycheck Protection Program Servicing Solutions
For Banks & Non-Bank Lenders
Your bank has done its share of Paycheck Protection Program (PPP) loans and you learned two lessons:
- PPP borrowers behaved like none you’ve supported in the past.
- The SBA rules were late in coming and regularly changing.
Savvy banks have learned their PPP lesson and are now establishing a plan to service PPP loans, including forgiveness, standard servicing and special servicing.
BoeFly is here to support you as you help your community. Get our white paper on Avoiding the PPP Servicing Minefield. Download Now
You delivered for your community and it’s time to get back to non-PPP work.
Originating PPP loans temporarily overwhelmed your bank, but there’s no reason servicing these PPP loans can’t be easier.
How can we help you navigate?
Sell your PPP Portfolio with Servicing to a Trusted Bank
Ready to put PPP behind you? Sell your PPP loans along with servicing. This approach enables you to lock-in your profitability while eliminating the burden and uncertainty of processing forgiveness, standard servicing and special servicing.
Sell your PPP Portfolio and Retain Servicing
Achieve liquidity while maintaining your relationship with your clients.
Engage a Proven Servicer
Engage a servicer which allows your team to process PPP loans along with servicing. This approach enables you to avoid the burden and uncertainty of processing forgiveness, standard servicing and special servicing.
Watch our webinar recording to learn more about your options.
BoeFly is the resource you can trust.
For over 10 years, we’ve helped banks sell SBA loans through our online platform.
During PPP disbursement, banks relied on BoeFly to access billions of dollars of qualified applications from across the country. Now, banks can turn to BoeFly to address the next PPP challenge: servicing.
Through BoeFly, you can seamlessly:
- Sell your entire PPP portfolio, or part of it, along with servicing.
- Sell your PPP portfolio and retain servicing.
- Retain the loan, but outsource servicing.
BoeFly is a wholly-owned subsidiary of ConnectOne Bank, Member FDIC.
In 2019, we partnered with ConnectOne Bank and today operate as a subsidiary. While we operate independently, this partnership has allowed us to refine our solution to meet banks’ needs while also partnering with leaders who understand the regulatory and KYC standards that banks are held accountable to.