Covid-19 turned the whole world upside down. When everyone had to shut themselves in their houses, some sectors fell to the ground. Companies started losing business and had to close their operations because of no cash flow. Now, they need an immediate cash flow to keep themselves up in these challenging times.
When a company applies for a Covid-19 emergency loan, they want the application process to be quick and efficient. Every day without an answer from you increases the stress and pushes them towards shutting down.
When a business closes, not only the owner loses his job, but hundreds of others do as well. That is why it is critical to make the Covid-19 loan application procedure as quick and seamless as possible.
However, while processing borrower applications, you must collect and scrutinize all legal documents to minimize compliance risk and meet all requirements. It is a time-consuming process, and when done using orthodox methods, the waiting period increases.
There are hundreds of businesses sending emails and knocking at your door for financial assistance. Hence, manually processing their applications is not feasible.
It's time to make the switch to Clustdoc, which makes data collection and processing a breeze. Clustdoc provides a digital experience to the business owners applying for Covid-19 emergency loans.
You will also save a lot of time and resources on application processing by automating the process using Clustdoc. It's a hands-off and straightforward approach to handling loan applications.
With Clustdoc, you can collect and move forward loan applications quicker than ever before. Your processing system will be thorough, structured, and well-integrated, helping you process loan applications faster with accuracy.
During Covid, collecting paper forms is not safe for both you and your borrower. And collecting forms over email is not an efficient process.
Loan applicants can now use Clustdoc's Digital Form Builder tool to fill out borrower forms online interactively and accurately.
Clustdoc's advanced forms make filling forms a seamless task without the use of any third-party application.
Applicants can also easily submit legal documents like employee payroll records, partner details, bank details, tax information, and more to apply for the Covid-19 emergency loan.
When the candidates submit their documents, the Clustdoc platform saves them in a cloud storage folder. You can instantly locate the files when you need them. You'll never again misplace an application record among the stacks of documents in your filing cabinet.
When applying for a loan, a person needs to sign several agreements and policies.
Without Clustdoc, legal papers have to be printed, signed, and then copied or scanned. Things take a long time to accomplish the traditional way.
The e-signature function in Clustdoc allows your borrowers to sign all of your papers in a matter of minutes.
You can collect legally binding e-signatures using Clustdoc instead of asking clients to print, sign, and scan documents.
To save your time and effort, we designed a covid-19 emergency loan application template.
Do you want to provide quick relief to your borrowers to get them through these tough times? Provide business owners impacted by Covid-19 the support they require with advance and efficient loan processing applications from Clustdoc.
To make things even easier, we created a ready-to-use template that you can tailor to your specific needs.
With Clustdoc, you can speed up the applications reviewing process and financially support businesses and people whose expected income and activities have been disrupted because of the pandemic.