Knowledge and Insights

Paycheck Protection Program Application Processing and Other Back Office Assistance

April 2020

SBA approved lenders, we know supporting your communities is your priority and supporting you is ours!  Are you a financial institution looking to assist borrowers with obtaining relief funds available through the new Paycheck Protection Program (PPP)? The Mercadien team stands ready to help our bank clients move quickly to ease the friction and administrative burden of the PPP lending process, whether by inspecting and assessing loan applications, supporting underwriting, or streamlining data collection and verification procedures, before, during and after funds are committed.

What should financial institutions know?

Small businesses overwhelmed U.S. financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  Through Mercadien’s platform specifically developed for this purpose, we can quickly and securely evaluate and analyze information about your loan applicants, including payroll filings and certifications necessary for potential eligibility and forgiveness. Based on the information submitted by your customers, we’ll assist your bank with confirming borrower eligibility, maximum loan amount calculations as well as forgiveness applications and underlying supporting documentation.

What are the bank’s responsibilities?

The bank will ensure the application is completed, borrower’s business was in operation as of February 15, 2020, and that no application questions were answered which disqualified the small business from applying. The bank will then complete a checklist to determine that all payroll support was provided with the application.

How can Mercadien help?

Payroll calculations, forgiveness applications and supporting documentation will be provided to Mercadien for verification through the use of a secure online portal. Mercadien can turnaround results over 1-2 days (with exceptions for incomplete loan amount/forgiveness applications) assuming an even number of applications are forwarded over the anticipated retention period. Once the stated application criteria is reviewed and verified, a confirmation letter will be supplied and banks will be able to proceed to funding. If we do not receive required information or calculation issues are noted, Mercadien will reach out to the applicant and work with them to obtain an updated calculation and/or additional documents as deemed necessary. If requested, Mercadien will also work with the bank’s personnel to determine the extent of efforts to be put forth before determining a loan application will be rejected. 

If interested in learning more, contact us at or contact your engagement partner to get started. 

DISCLAIMER: This advisory resource is for general information purposes only. It does not constitute business or tax advice, and may not be used and relied upon as a substitute for business or tax advice regarding a specific issue or problem. Advice should be obtained from a qualified accountant, tax practitioner or attorney licensed to practice in the jurisdiction where that advice is sought.