When the Paycheck Protection Program rolled out in April to help small businesses struggling through the coronavirus crisis, many companies found the loan application process confusing. Square Capital, the loan division of Square (the company behind those little white credit card readers), developed a user-friendly PPP application by breaking down information into quick, at-a-glance details: a series of questions that would steer applicants toward the correct tax and payroll documents. As of mid-June, Square had submitted $873 million in applications to the Small Business Administration on behalf of 80,000 applicants. “Small businesses should not have to struggle to receive the support they need,” says Sam Khalsa, product design lead for Square Capital.
See more honorees from the 2020 Innovation by Design Awards here.