Abrigo’s PPP Origination Platform charges a percentage of the Bank’s agent fee. There is a minimum $15,000 "retainer
" that banks pay upfront and that is where Abrigo collects the fees from. Anything over $15,000 they bill in arears. For KBA Members, Abrigo will waive the $6k set-up fee
and banks only pay the $750 for Adobe E-sign (which is how your borrowers will sign the promissory note. This IS included in the platform.) Here is a recorded demo
for banks to take a look (the first part is loan origination and the second part would be the forgiveness piece).
Abrigo has had INCREDIBLE feedback from the banks currently working with them based on the ease of Abrigo’s platform, especially due to their long-standing API with E-tran.
Ways their platform can help:
- Ability to scale quickly with high demand for PPP origination and forgiveness
- E-Tran and SBA Portal Integration – pushes data without re-entry for origination and forgiveness applications
- Digital application – link on your website and shareable by lenders with borrowers
- Fully compliant solution with required documentation, eligibility, etc. built-in
- E-sign capability for faster turnaround time