The Challenge
Background
Amidst the Covid-19 global pandemic, a $2.2 trillion coronavirus stimulus bill was signed into law by President Donald Trump in March 2020 to set aside $349 billion for a new small-business loan program.
In an effort to service our Small Business Clients, a team of business, technology and design partners were tasked to convert SBA Paycheck Protection Program Borrower Application Forms into a digital experience to streamline the underwriting process and expedite reviewal and approval for funds.
UX Goals
- A 100% SBA guaranteed loan directly from KeyBank that is possibly eligible to be forgiven and requires no other collateral or personal guarantee.
- Intended to cover costs related to payroll expenses, continuation of group health care benefits, lease payments, mortgage interest payments, utility payments and interest on other pre-existing debt obligations.
- Loan forgiveness amount will be equal to the amount spent on payroll costs, mortgage interest payments, lease payments, and utility payments during the 8 weeks following the loan origination date.
UX Constraints
- 1 Week Turnaround
- Strict scope leveraging existing UX Patterns and technology framework
- Implementation before user testing
- SBA guidelines referenced to inform acceptance criteria changed 3 times during design and implementation.