Innovating PPP Loan Processing for Cumberland River Financial Group (CRFG)

Fintech Excellence: A Success Narrative
The Challenge
Cumberland River Financial Group (CRFG), like many financial institutions, faced an unprecedented challenge during the Covid-19 pandemic. With the introduction of the Paycheck Protection Program (PPP) by the Trump administration, there was an urgent need to create a loan processing system to facilitate small and medium-sized businesses in obtaining much-needed financial relief. Time was of the essence, and CRFG needed a robust solution swiftly.

Choosing BeyondScale
Recognizing the urgency of the situation, CRFG turned to BeyondScale, a dynamic and agile technology partner known for its proficiency in delivering custom web applications. BeyondScale's ability to adapt quickly to evolving requirements and their unwavering commitment to security made them the ideal choice for this critical project.

Security at the Forefront:

Given the sensitive nature of financial data and the need for strict compliance with data security regulations, security was the top priority. BeyondScale implemented stringent security measures to ensure the confidentiality and integrity of the data throughout the application's lifecycle.

Technical Framework:
  • Frontend: BeyondScale built the web application using the ReactJS framework, offering a modern and user-friendly interface.
  • Backend: The backend was powered by Django, a robust and scalable framework that ensured the application's functionality and performance.
  • Database: PostgreSQL was chosen as the backend database, offering a secure and reliable data storage solution.
  • Hosting: The application was hosted on Amazon Web Services (AWS), providing a scalable and resilient infrastructure.

Key Features:
  • Modular Design: The web application was crafted with a modular and component-based architecture, enhancing flexibility and maintainability.
  • Data Security: All data, both in transit and at rest, was encrypted to safeguard against potential threats.
  • PII Anonymization: Personally Identifiable Information (PII) data was anonymized to protect the privacy of individuals.
  • Secure Document Upload: Loan documents were securely uploaded to AWS S3, ensuring data integrity and compliance.
  • Role-Based Access: The application featured role-based access control, allowing CPAs and agencies to efficiently process multiple applications.
  • Docusign Integration: Business owners were empowered to approve their applications through seamless Docusign integration.
  • SBA API Integration: The web application seamlessly accessed the Small Business Administration (SBA) API endpoint, streamlining data retrieval and processing.

Backend Processing with Amazon Workspaces:
As the Covid-19 pandemic forced CRFG's team to transition from a secure office environment to remote work, BeyondScale devised an innovative solution. Amazon Workspaces were employed to provide CRFG's internal team with secure access to data and loan processing tools. A "closed data model" was implemented to prevent data from leaving or entering the Workspaces, ensuring data security. To maintain transparency and accountability, all data access transactions were logged for audit purposes.

The Result:
Within a remarkably tight timeframe, BeyondScale successfully delivered a secure and robust solution to streamline the PPP loan processing for CRFG. The web application not only met the immediate needs of CRFG but also established a foundation for future scalability and growth. This collaborative effort exemplified the agility and technical prowess of BeyondScale and its commitment to helping clients navigate challenging times with cutting-edge solutions.

The partnership between CRFG and BeyondScale served as a testament to the power of collaboration and innovation, even in the face of unprecedented challenges. BeyondScale's ability to adapt swiftly, prioritize security, and deliver results has positioned them as a trusted technology partner for organisation seeking excellence in software development and beyond.
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