Flushing Financial, Excelsior Growth Partner to Offer Small Business Loans
MAR 16, 2016 - 6:52 am
Flushing Financial, the parent holding company for Flushing Bank, partnered with Excelsior Growth Fund, a nonprofit community development financial institution formed by New York Business Development Corporation, to offer simplified access to small business loans under $100,000.
EGF’s signature product is the EGF SmartLoan, which is accessed through an online platform.
“As a community bank, we recognize the important role that small businesses play in our local economy. Our partnership with Excelsior Growth Fund allows us to offer our small business customers flexible financing of up to $100,000 for working capital, machinery and equipment and other uses,” said John R. Buran, president and CEO of Flushing Bank. “This program addresses the underserved markets with targeted programs that address the needs of low-income and otherwise underserved small business owners with the advantage of online lending. The new online application will be of particular interest to small businesses that prefer fast access to capital, but with lower payment and more attractive terms than many alternatives.”
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