How Sunrise Banks and Anvil onboarded $127M in PPP loans for 1600 SMBs in 5 days
- When Sunrise Banks approached the PPP application process, it turned to Anvil.
- The technology company takes paperwork and turns it into customized digital workflows.
The PPP government aid program in the US continues to put a strain on the banking sector.
We’re hearing an increasing number of stories of how traditional institutions are partnering with fintechs to navigate through the crisis. Anvil is one of those fintechs servicing traditional banks and FIs. The company, which replaces PDF forms with online workflows, collaborated with Sunrise Banks to get help the Minneapolis-based bank process $127 million in PPP loans in just five days for 1600 small businesses. Anvil also closed a recent funding round that saw Citi Ventures and Gradient Ventures, Google’s AI-focused fund, participate.
Anvil founder and CEO Mang-Git Ng joins us on Tearsheet Podcast today.
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The following excerpts were edited for clarity.
What Anvil does
We are a paperwork automation platform. We help banks take their existing paperwork process and convert it into online workflows that. It really simplifies the paperwork preparation, data gathering and signature aspects.
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