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Insiders explain issues with forgiving PPP loans and how fintechs help - Business Insider

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Insiders say forgiving PPP loans will be more complex than applying was. Here's how fintechs are helping— and winning over banks' clients as a result.

are looking to step up to the plate to help lenders and borrowers manage an intricate process.

"I would view the fact that there are still so many changes happening right now as good evidence of the underlying structural problems," Pitts said regarding the rule revisions. "A lot of those rely around the complexity and difficulty of meeting that complexity with the appropriate data."One of the biggest challenges navigating the program has been the constant updates, insiders said.

Uncertainty around what is, or isn't, needed when applying is also compounded by not having the ability to make changes after the submission is made, Rohit Arora, CEO and cofounder of online small business lender Biz2Credit, told Business Insider.

 

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