WaFd Bank Gets Money to Small Businesses in Need During COVID-19 with nCino

The U.S. economy and the American workforce have been hit hard. In the nearly two months since a national emergency was declared, more than 30 million Americans have filed for unemployment. Businesses have two options: rethink how to stay open and serve customers safely, or close up shop until things improve.

But for small businesses, the second option is likely off the table. Instead, a number of small and mid-sized businesses across the country are turning to financial institutions to borrow much-needed funds, including from the Paycheck Protection Program (PPP) backed by the U.S. Small Business Administration (SBA). That means financial institutions need a fast, efficient, and completely digital way to respond to their customer’s needs and help the American economy.

Financial institutions — like WaFd Bank headquartered in Seattle, Washington — are leveraging AppExchange partner nCino’s online SBA Lending Solution to efficiently and digitally provide financing to small and mid-sized businesses through the PPP. nCino’s Chief Product