Wolters Kluwer’s Compliance Solutions business has officially launched its enhanced Paycheck Protection Program (PPP) Supported by TSoftPlus™ software to help lenders and borrowers expedite PPP loan applications via the Small Business Administration (SBA). Wolters Kluwer recently upgraded its TSoftPlus software in anticipation of new PPP stimulus funding that was approved on December 27, 2020, as part of the Consolidated Appropriations Act, 2021 (H.R.133). The SBA reopened its PPP portal on January 11, for new, first-draw PPP loan applications through designated “community financial institutions,” as defined in the recently passed new round of stimulus funding. This group of institutions includes minority depository institutions (MDIs), community development financial institutions (CDFIs), certified development companies (CDCs), and micro-loan intermediaries. Second-draw PPP loan applications are available beginning January 13, 2021. PPP applications through the SBA will be expanded to include other types of financial institutions in the coming days as part of the new law. Thanks to its recently announced acquisition of eOriginal, Wolters Kluwer Compliance Solutions is also able to offer a digital loan platform that enables compliance with SBA Appendix 8 mandates for digital loans. These complementary solutions allow lenders to navigate the intricacies of PPP. Benefits include accelerated PPP lending from application, to closing, to pledging to the Federal Reserve under the Borrower-in-Custody program by eliminating the manual post-closing activities that have presented an unanticipated challenge for the industry. Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.