How Sunrise Banks and Anvil onboarded $134M in PPP loans for 1600 SMBs in 5 days

Welcome to the Tearsheet Podcast. I’m Zack Miller.

The PPP government aid program in the US continues to put a strain on the banking sector. We’re hearing an increasing number of stories of how traditional institutions are partnering with fintechs to navigate through the crisis. Anvil is one of those fintechs servicing traditional banks and FIs. The company, which replaces PDF forms with online workflows, collaborated with Sunrise Banks to get help the Minneapolis-based bank process $134 million in PPP loans in just five days for 1600 small businesses. Anvil also closed a recent funding round that saw Citi Ventures and Gradient Ventures, Google’s AI-focused fund, participate.

Anvil founder and CEO Mang-Git Ng joins me on Tearsheet Podcast today.