As might be expected with any massive undertaking, billions in Paycheck Protection Program (PPP) loans to the most vulnerable businesses across the U.S. got confusing quickly with a mostly manual process with the propensity for fraud.

The DOJ's criminal division stated that they will be monitoring and investigating PPP fraud, and audits are going to cost institutions a great deal of money because they're going to have to produce documents, witnesses and go back and look at what happened.

As a Consumer Reporting Agency (CRA) at heart, MicroBilt's mission is to help customers identify risk in their business models and solve for that equation. Our platform was already being used in the consumer lending environment and its success made us realize we could extend the technology quickly to the small business underwriting of these loans.

MicroBilt can gather, verify, and automate in real-time all of the required application documents for lenders to reduce fraud and prepare for future audits as an independent or add-on solution.

Available via web portal, API, and batch.

  • Payroll validation (940, 941, 944, 1099-MISC) and payroll reports directly from the payroll company (ADP, Quickbooks, Gusto & more)
  • Bank account statements directly from the financial institution
  • Prevents borrowers from modifying information and committing fraud
  • Business organization data verification
  • Application data verification
  • Live in-house call center support
  • Safe & Secure

Verification is Easy
  1. Business securely connects accounts
  2. Verified business information is transferred to the lender

SBA - Paycheck Protection Program Information
To underwrite PPP loans, lenders will need to:
  • Confirm receipt of borrower certifications contained in the Paycheck Protection Program Application form issued by the SBA Administration;
  • Confirm Receipt of information demonstrating that a borrower had employees for whom the borrower paid salaries and payroll taxes on or around February 15, 2020;
  • Confirm the dollar amount of average monthly payroll costs for the preceding calendar year by reviewing the payroll documentation submitted with the borrower’s application;
  • Follow the Bank's underwriting and compliance requirements.

Each lender’s underwriting obligation under the PPP is limited to the items above and reviewing the “Paycheck Protection Application Form.” Borrowers must submit documentation as is necessary to establish eligibility such as payroll processor records, payroll tax filings, or Form 1099-MISC, or income and expenses from a sole proprietorship.
Due to expected high demand, the US Treasury and SBA recommend that applications be submitted as soon as possible. The application can be found here on the US Treasury site, along with details for borrowers and lenders.
The above information is gathered from existing official US Treasury and SBA published notices, which may be subject to change.

For more information on the Paycheck Protection Program:

Payroll Verification Service - PPP Application Process

Payroll Verification Service Bundle - (includes all services listed below)
Standalone Payroll Verification Services (per item):
   - IRS Form 940 (or 944 if filed)
   - IRS Form 941 (all filed quarters)
   - IRS Form 1099-Misc
   - Payroll Registers
* CARES SBA-PPP Payroll Costs report generated by payroll providers included with the purchase of one or more items above.

PPP Application Verification Data
Credit Profile w/ Fico Score (Non-Auto/Non-Mortgage) *

Support Documentation
Secretary of State Filings Search Verifies basic business information, corporate structure, principle’s address
Bankruptcy report on Owner SBA Form 2483 Question 1
Bankruptcy report on Business SBA Form 2483 Question 1
Experian Business Report SBA Form 2483 Question 2
Instant Bank Verification Verifies business bank account for multiple accounts in one report
Criminal/OFAC on Owners/Principal SBA Form 2483 Question 5 and 6

Customized Solution

Have one of our business service consultants contact you.