The CEBA is aimed to support small businesses struggling with cash flow during the COVID-19 pandemic, and several banks began rolling out the federal program in April 2020. According to Betakit, JUDI.AI has developed, tested, and deployed a digital solution that the company says has processed USD 150 million worth of CEBA funds, and has assisted with thousands of applications.
JUDI.AI provides financial institutions with an AI-driven loan adjudication platform with a credit engine for small business and consumer lending. The startup aims to reduce the time it takes to process applications and automate workflow for financial institutions.
JUDI.AI is also assisting with the next wave of small business loan applications from the BDC co-lending program, which opened on April 24. The company has been working in partnership with its customers to ensure a solution will be available to support the underwriting of these loans, while also offering credit unions visibility of these applications to help streamline government reporting.
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