Case Study: Altabank achieves rapid PPP loan approvals—91% approval and millions in relief processed in seconds with MX Technologies

Giving Small Businesses a Fighting Chance

Altabank needed to move quickly to deliver CARES Act Payroll Protection Program (PPP) relief to small businesses hit by the COVID-19 downturn. To streamline an urgent, high-volume application process—where speed and accuracy mattered—Altabank partnered with MX Technologies to deploy a self-service PPP loan portal (the MX SBA portal) for clients and loan officers.

MX Technologies’ portal automated intake and admin workflows so loan officers could review and approve applications in seconds, cutting average processing time from about 30 minutes to roughly 10–30 seconds. The result: millions of dollars in PPP loans processed, a 91% approval rate, and a far more efficient workflow that helped hundreds of local businesses secure critical relief.

Altabank

Len E. Williams,

Chief Executive Officer and President