FAQ

Excelsior Growth Fund (EGF) promotes economic development and job creation in New Jersey, New York, and Pennsylvania by providing streamlined access to small business loans and business assistance services. EGF is a not-for-profit 501(c)(3) and certified by the U.S. Department of Treasury as a Community Development Financial Institution (CDFI). 

An EGF SmartLoan™ can be used for working capital, purchasing machinery and equipment, acquiring a new business and technology upgrades. To learn more about an EGF SmartLoan™, click here >.

Click here > to learn about the eligibility details for an EGF SmartLoan™. 

To apply for a loan from the Excelsior Growth Fund, complete the following steps:

Step 1: Visit the EGF SmartLoan™ application page and get prequalified
Step 2: Submit an online loan application
Step 3: Receive an approval from Excelsior Growth Fund
Step 4: Receive loan

EGF's application asks common questions that most business owners find easy to answer. These include:

  • Personal and business address and contact information

  • General information about you and your business

  • Details on the loan: how much you want to borrow and what you will use it for

  • Information on any existing business debt

A borrower will need:

  • Most recent two years of personal tax returns

  • Most recent two years of business tax returns

Yes. The data is saved as sections of the application are completed. When a borrower logs in again the information is still available.

Assistance is available via the 'chat with an application specialist' tab during each step of the online loan application process.

Anyone with 20% or more ownership in the business will need to participate in the application. The system lets any business owner start the application and walks you through how to invite other owners to submit their parts. It's easy!

Excelsior Growth Fund offers a variety of terms loans for small businesses.

The EGF SmartLoan™ is designed to meet the needs of today's small businesses where time and ease of application are a priority. The EGF SmartLoan™ combines competitive rates and terms with a simplified application process. Learn more >

If your business does not qualify for a SmartLoan™or is seeking a loan over $100,000, please review our other loan products >.

Once you have submitted your application, you will recieve a decision in 1-2 business days.

EGF loans are typically funded in less than 5 business days.

Our online application takes about 20 minutes to complete.

Payments are automatically debited from your bank account once per month, via an Automated Clearing House (ACH).

We work with small businesses from all industries.

No. We do not charge any additional fees if you pay back your loan in advance.

We treat your returns with the utmost privacy. They are not used in any other capacity than to evaluate your loan application. All of your information is protected by the same 128-bit encryption as banks and other financial services.

Applying will not affect your credit score. Our credit score is a "soft pull."

Yes. EGF loans are a great way to refinance your high cost debt. In fact, we save customers an average of $6,300 on their monthly payments.

As a nonprofit organization, EGF receives funding from private donors and government sources to achieve its mission of helping small businesses grow.

Choosing a lender is a big decisions and we understand you want to know more about us. We invite you to call us at (866) 466-9232 (Monday-Friday, 9 a.m. - 5 p.m.) to speak with a representative. We'd be happy to walk you through who we are and how we help small businesses.

Unlike other online lenders, EGF is a nonprofit, Community Development Financial Institution (CDFI) certified by the U.S. Department of Treasury. As a mission driven lender, our main goal is the success of your business. That's why we want to make loan capital as affordable as possible, with interest rates from 8-11.9% and repayment terms of up to 5 years.