HCL PPP Loan Forgiveness Solution | HCLTech

HCL PPP Loan Forgiveness Solution


To help businesses and individuals during COVID-19, the US government has announced various stimulus packages. One such program is the Paycheck Protection Program (PPP) designed to help small businesses impacted by the pandemic. The Paycheck Protection Program provides loans to eligible businesses to meet their salary and utility payments.

Using its deep industry expertise, HCLTech has developed an automated solution to streamline processing of PPP forgiveness application. Borrowers can submit the forgiveness application for lender’s review while adhering to the Small Business Administration (SBA) guidelines.

PPP Loan forgiveness flow

Educate PPP borrowers
Proactive communication and forms
Allow borrowers to calculate and document forgiveness
Submit all required Information and Documents
Confirm payroll/mortgage Utility and other expenses
Check for EIDL grant and Adjust if present
Resolve all open issues
Decision and quality check On forgiveness application
Prepare forgiveness package
Submit to SBA for Approval
Notify borrower of the Status of forgiveness application
Forgiveness approval by SBA
Notify borrower of forgiveness amount
Convert remaining amount As loan to be repaid
Receive forgiveness amount from SBA
Reconciliation, Audit and reporting

The HCLTech Solution

HCLTech is a global leader in providing solutions and services across industry verticals. Leveraging the best practices & learnings from its vast experience, HCLTech has developed a fully automated robust solution to address the complexities of PPP Loan forgiveness process.

The cloud-based solution provides small businesses an option to initiate forgiveness request and lenders to process forgiveness applications, in adherence to SBA guidelines.

Portal features

  • Store and retrieve data for six years
  • Audit trails
  • Pre-verified calculation of forgiveness amount
  • Adhere to federal and SBA guidelines
  • Borrower Dashboard
  • Digital Forgiveness application
  • Pre-verified calculation of forgiveness amount
  • Upload supporting documents
  • E signatures
  • Real-time status upload
  • Lender Dashboard
  • Review and approve applications
  • Query borrower and ask for additional documentation
  • Workflow and queue management
  • Reporting and reconciliation

Portal features

HCLTech Solution Differentiators and Benefits


  • The solution helps in complying with Federal and SBA guidelines
  • It has automated form to calculate payroll costs, non-payroll costs, and Full Time Employee equivalent
  • It auto-calculates the forgiveness amount for the borrowers
  • Intuitive dashboard for borrowers and lenders is developed, featuring the latest Federal and SBA guidelines
  • Workflow and queue management is provided for reviewing and approving the forgiveness applications
  • On-demand regulatory and MIS reporting


  • The solution helps in removing cumbersome and error-prone manual calculations
  • Interactive portal enables quicker resolution of issues
  • Cloud-hosted portal
  • Scalable and flexible portal to provide ease of use & reducing workloads


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The original loan forgiveness application (Form 3508) has four parts to it and PPP Schedule A has two complex tables and an FTE Reduction .Download this whitepaper to know more about the PPP Loan Forgiveness and how HCLTech can help banks through the HCLTech PPP Loan forgiveness Solution. .