Small Business Lending

How might we digitize data collection to expedite the underwriting process to relieve Small Business Lending during a global pandemic?
UX Lead, Omnichannel Originations
Web & Mobile
Figma & Atlassian Jira
The Challenge


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

UX Constraints

UX Approach

The Hook Model


Banker Experience: Bankers can enter streamlined application in Small Business Originations platform for prospects and clients.

Client Experience: Bankers can send email link for prospects and clients to enter at home digital experience.


Client received email with new digital application to complete for more convenience and faster processing. Must be a current KeyBank client to apply.

We'll start reviewing applications once clients submit and will get in touch as soon as it's processed.

Applications need to be completed within 30 days of starting.


For businesses and non-profits with 500 or fewer employees

Opportunity for complete loan forgiveness

Any amount not forgiven after Dec 31 , 2020 is converted to a term loan not to exceed 10 years or 4% interest

Variable Reward

Loan amount is the lesser of: $10,000,000 or 2.5x the total average monthly payroll costs incurred in the 1 year prior to origination

Monthly payments are deferred between 6 and 12 months

The model comes from the book Hooked: How to Build Habit-Forming Products by Nir Eyal which talks about things like — why do some products capture widespread attention while others flop and what makes us engage with certain products out of sheer habit. (Book Notes)


User Flows


Key Features


Select Screens

Sign On Screens

Ability to distribute access to loan application via email (as well as from existing Keybank Business Online account.

Welcome Screen

Ability for clients to start the application, save it and resume.

Electronic Disclosures

Ability to digitally accept terms and conditions.

Multiple Owners

Ability to collect up to 5 business owners.

Identity Verification

Ability to authenticate clients prior to signing ceremonies.

Document Upload

Ability to upload documents that demonstrate small business number of paid employees along with their total wages, tips & other compensation.

Sign & Submit

Ability to submit application information to the SBA loan processing system to trigger DocuSign.

Confirmation Screen

Ability to confirm application received, accompanied by email campaigns with next steps.


Closing Remarks

In a week, we delivered an end-to-end digital application process that allowed more than 28,000 small business, commercial and institutional clients to apply with a historically high 91% click-through rate.

We processed more than 40,000 loans totaling $8 billion in funding. We ranked #7 in the nation for the Paycheck Protection Program.

Lessons Learned

Next Steps

Dollar Video by Cotton Bro from Pexels