Smart Communications Unveils Solution to Accelerate PPP Loan Forgiveness Applications

SmartIQTM Adaptive Forms Technology Offers Tailor-Made Solutions to Ease Review, Calculation and Submission Process for Lenders, Banks and Borrowers

London and New York – June 17, 2020 – Smart CommunicationsTM, the only provider of a customer conversations management platform, today announced the launch of a PPP Loan Forgiveness Application Solution designed to expedite the forgiveness process and reduce friction for applicants and their lenders. Through digitally transformed forms processes uniquely offered by the company’s SmartIQ product, lenders can streamline the complexities associated with completing the loan forgiveness application, reducing errors and processing time.

Millions of small businesses received more than $500 billion in loans through the PPP over the last several weeks. While these low-interest, forgivable loans have been attractive to small businesses, owners have had many questions about how to ensure they won’t have to repay the loan, and the loan forgiveness application – even more complicated and confusing than the PPP application form – requires potentially hundreds of calculations to be executed, aggregated, and sorted in order to create an accurate and complete submission.

“As banks and lenders ready themselves for this complicated Loan Forgiveness phase, we recognize the burden this paper-heavy process creates for all parties involved,” stated Rodney Frye, President of SmartIQ North America at Smart Communications. “Today more than ever before, banks are committed to providing unwavering support to the businesses that need it most. We’re proud to deliver this first-to-market, turnkey solution designed to ease the process for all – and create lasting, loyal relationships through the process.”

By guiding borrowers through an adaptive interview, the SmartIQ solution simplifies the complex PPP Loan Forgiveness Application, ensuring a streamlined response process, more accurate data collection and calculations, and confidence that the most up-to-date program requirements have been built into the response process. Organizations adopting this first-to-market solution can launch a fully digital, mobile-ready application engine within their enterprise in days – including Form, Schedule A, and all worksheets and calculations. Specifically, it offers the following key benefits:

  • An intuitive, guided interview experience that simplifies complex instructions by dynamically guiding customers through loan forgiveness questions in a responsive way, based on their answers, from any device.
  • The ability to calculate and compete all worksheets within the solution, with integrated logic to determine nominal reductions, reduction quotients, FTE & Pay Rate Reductions and Forgiveness Amount selection.
  • Easy inclusion of supporting materials and attachments, and the flexibility to start and stop an application across devices as necessary – without starting over.
  • A quicker completion process from start to review, through to e-signatureand submission.
  • A reduction in illegible or inaccurate applications that require manual review
  • Faster forgiveness notification

For more information about the SmartIQ PPP Loan Forgiveness Application Engine, click here.

About Smart Communications
 Smart Communications™ is the only provider of a customer conversations management platform. More than 500 global brands rely on Smart Communications to deliver smarter conversations across the entire lifecycle—empowering them to succeed in today’s digital-focused, customer-driven world while also simplifying processes and operating more efficiently. This is what it means to scale the conversation. Smart Communications is headquartered in the UK and serves its customers from offices located across North America, Europe, and Asia Pacific. The Smart Communications platform includes the enterprise-scale customer communications management power of SmartCOMM™, forms transformation capabilities made possible by SmartIQTM and the trade documentation expertise of SmartDX™. To learn more, visit