PPP Forgiveness: How SBA Lenders are Successfully Handling Borrower Concerns

A new tool to reduce calls and drive satisfaction.

The Problem

SBA lenders know that qualifying for loan forgiveness as part of the PPP (Paycheck Protection Program) can feel like a life or death situation. And for many businesses, it is.

It is critical that borrowers understand if they’re eligible for, and how to apply for, loan forgiveness.

So, let’s ask ourselves an age-old question:

Q: How do you get your customers to read government forms?
A: You don’t

Instead, you focus on your deeper goals:

  • Understanding: You want your customers to comprehend the information
  • Relevance: Customers want to know what is pertinent to them
  • Action: Ultimately, you want to drive people to take the optimal next step(s)

The Solution

First, we need to accept the reality that most people can not read a government form without their eyes glazing over and their minds wandering off.

Furthermore, (to state the obvious) few government documents are written in a manner that the layperson can understand.

That’s why Idomoo created an Interactive+Personalized Video to help borrowers easily understand the criteria for loan forgiveness and how to apply.

Understanding:

Human beings are primarily visual learners. By using visual metaphors and conversational language, we make the information easily digestible to everyone.

Relevance:

Personalization & Interactivity ensures the information is relevant to the individual.

Users don’t see a video, they see their video. Their name, their business name & their information eliminates the guesswork and tells them whether or not they are likely to be a good candidate for loan forgiveness.

Interactivity puts them in control. Allowing the viewer to pick what they want to learn about — and not be bothered with information irrelevant to them & their business.

Action:

With increased understanding borrowers are empowered to take next steps with confidence, knowing their lender has been there to help them & their business.

For the lender, call reduction dramatically goes down & customer satisfaction soars as customers feel informed and cared for.

How we help:

As government rules continue to change rapidly, we see the need for increased agility. Idomoo builds videos dynamically, allowing for quick changes as information evolves.

Branded videos are launched in as quickly as 2 weeks, and the dynamic nature of Idomoo videos makes post-launch updates fast & easy.

In these historic times, communication methods have been forced to rapidly evolve. To keep up with consumer demand for advancements in digital services, we need to stay ahead of the curve by delivering digital communication that is relevant, engaging, and helpful. That’s why using Idomoo’s Interactive+Personalized Video technology has never been more applicable — contact us today to see why today’s top lenders are already using Idomoo, and let us help launch you into the next generation of digital communications.

To learn more about what Personalized Video can do for your business, click below.

Learn more

Explore More Content

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Explore More Content

Related Articles

How AI Is Revolutionizing Enterprise Video Production

How AI Is Revolutionizing Enterprise Video Production

When you think about corporate video production, you might picture a lengthy, expensive process involving teams of videographers, editors and creative directors. But today, artificial intelligence is flipping the script. Enterprise video production with AI technology is faster, more scalable and often more cost-effective than traditional methods. For organizations looking to engage employees, clients or partners with personalized, high-quality video content, AI-driven video isn’t just a nice-to-have. It’s becoming the new standard. Let’s break down why AI is changing the video production process for enterprises. The Challenges of Traditional Enterprise Video Production Creating video at scale has always been tough for enterprises. Here’s why: Time-consuming: From pre-production, scriptwriting and filming to editing and post-production, traditional video projects can take weeks or even months. Costly: Hiring actors, renting equipment, booking studio time — it adds up fast. Difficult to scale: Producing a handful of videos is manageable. Producing thousands, personalized for

Read More
Video Captioning 101: What Brands Need To Know Today

Video Captioning 101: What Brands Need To Know Today

It’s been nearly 100 years since “talkies” put an end to the era of silent films. Since then, movies, television and online videos have used the powerful combo of imagery and sound to bring stories to life. From blockbuster films to quick clips on social media, video has become one of the most common ways we connect, share and learn. We stream them during our work breaks, binge-watch them at night and even rely on them to learn something new quickly. But while visuals and audio are both major parts of the video experience, we hit “mute” more often than you’d think. Whether we’re in a noisy coffee shop or trying not to disturb a quiet office, video captions make it possible to watch without sound. It’s not just a nice-to-have but essential for accessibility, engagement and making sure your message is communicated no matter where (or how) someone is

Read More
The Evolution of Visual Communication: From TV To ‘PV’

The Evolution of Visual Communication: From TV to ‘PV’

Over the past 300,000 years, modern humans have relied overwhelmingly on visual information. Our brains are masters at quickly processing images, shapes, colors, movement and facial expressions. Long before we had spoken language, we relied on visuals to make sense of the world and survive it. Even now, within 30 seconds of entering a room, I can quickly identify whether I’m among friends or in a fight-or-flight situation. How? By reading the people in it — their body language and facial expressions. It’s instinctual. These visual cues give us clues about who someone is and what their intentions might be. That’s why visual storytelling — from cave paintings to today’s dynamic videos — has always been so powerful. It taps into our most foundational form of communication. And in an age where attention spans are on the decline, appealing to that ancient instinct can make all the difference. Visual Communication

Read More

Request a Demo

Leave your details below, and we’ll be in touch to show you what Personalized, Interactive and Enterprise AI Video can do for you.