Baker Hill Partners with Financial Institutions on Paycheck Protection Program Loan Forgiveness

FinTech company collaborates with banks to provide support for small business lending

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Jun 09, 2020, 10:00 ET

CARMEL, Ind., June 9, 2020 /PRNewswire/ -- Baker Hill, the leading financial technology provider in delivering solutions for commercial, small business and consumer loan origination, risk and relationship management, CECL, and analytics, is partnering with various banks to expedite the process of Paycheck Protection Program (PPP) loan forgiveness. The Baker Hill NextGen^® Forgiveness solution is a single solution designed for the management of PPP loans and the required documents.

Institutions such as Home Bank are leveraging the Baker Hill NextGen® Forgiveness solution to keep the relief and aid coming to its customers and communities. "Home Bank chose to implement Baker Hill's PPP solution as a supplement to our existing Baker Hill product," said Barry Burns, VP of Business Systems & Process Manager for Home Bank. "We recognized the benefits it would bring not only to our staff, but most importantly to our customers. After implementation we were able to submit over 1,300 loans in a single day, exceeding what took more than a full week to do before. Baker Hill's quick response to a pressing need better enabled Home Bank to meet our customers' expectations in this very critical time."

Institutions like Pathfinder Bank were also quick to leverage the Baker Hill NextGen® Forgiveness solution, as it seamlessly integrates with its existing Baker Hill NextGen® module. With the upcoming deadlines from the Small Business Administration regarding PPP loan relief approaching quickly, Pathfinder Bank was able to confidently decide to move forward with Baker Hill.

"We know how important it is for our clients to be able to serve their customers during this period," said John Deignan, president and chief executive officer at Baker Hill. "Supplying a solution to fit the needs of our customers that could be implemented quickly was crucial to getting loan relief into the hands of those that need it."

The Baker Hill NextGen® Forgiveness solution was created specifically to serve this market need. Financial institutions can confidently capture forgiveness request amounts, leverage a portal for gathering documents, track audits and expenses, and leverage the flexibility and technology of a digital experience. The solution is scalable and comes with the full power of the Baker Hill NextGen® product suite, allowing for loan life and risk management throughout the entire loan cycle.

Baker Hill NextGen® is an end-to-end platform with a roles-based modern user interface specifically engineered to adapt to the evolving needs of financial institutions. Over 35 years of proven industry expertise is available for banks and credit unions through the power of Baker Hill NextGen®.

For more information on receiving PPP and SBA lending support from Baker Hill, visit www.bakerhill.com/cares-act-ppp-lending.

About Baker Hill
Baker Hill is the expert solution for loan origination, portfolio risk and relationship management, CECL and analytics for financial institutions in the United States. The company delivers a single unified platform with modern solutions to streamline loan origination and portfolio risk management for commercial, small business and consumer lending. The Baker Hill NextGen® platform also delivers sophisticated analytics and marketing solutions that support sound business decisions to mitigate risk, generate growth and maximize profitability.

Media Contact
Haley Williams, Public Relations Specialist
[email protected], 317-814-1245

SOURCE Baker Hill