“Speeding up loan processing could mean the difference between a business and its employees surviving intact, or going bankrupt and adding to the skyrocketing unemployment,” says Plaid CEO Zach Perret. The lending is being done through banks, although many non-bank lenders like Square and PayPal have lobbied to be included. Plaid said it has at least 100 lenders interested in the product — ranging from banks to fintech lenders and is in talks with payroll providers such as ADP and Gusto. Plaid said this payroll product could help banks add newer customers who otherwise might take days to get their payroll paperwork before being approved. “People need solutions that will make the road to recovery as straightforward as possible” Perret said. “Fintech can, and should be able to help.”

https://www.cnbc.com/2020/04/06/plaid-gives-lenders-access-to-start-up-payroll-data-for-sba-loans.html