Updates

Benefits of Community Development Financial Institutions

Here’s a great opportunity for banks looking to better serve their small business customers: According to a survey by the Federal Reserve Banks, 61% of small businesses faced financial challenges within the last year—access to credit was named as the number one challenge for these businesses, and only 45% of small businesses were successful in securing traditional financing for their needs. While these small businesses did not qualify for conventional financing, an alternative lender [...]

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New York – Congresswoman Carolyn B. Maloney held a press conference at Roberto’s Winds & Michiko Studios, a thriving small business and EGF client in Manhattan. The conference was in celebration of Small Business Week and announced the Congresswoman’s bill, the Investing in America’s Small Businesses Act.  The act, which is strongly supported by small businesses and Community Development Financial Institutions (CDFIs), would create grants that protect the CDFI [...]

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NYC news station NY1 features EGF President, NYBDC clients

New York City-based news network NY1 aired a two-segment story about the rise of women-owned businesses. Excelsior Growth Fund President, Steve Cohen offered his outlook on the state of these businesses in New York’s most populous metropolitan area.  “Over the past 10 years, the numbers of women-owned businesses in the city has grown by 65%,” said Cohen, noting that New York City in particular has “the largest number of women-owned businesses of any city in the [...]

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Renowned finance magazine, Fortune Magazine, featured Excelsior Growth Fund as one of the initial lenders who will have access to the Contract Financing Loan Fund. This $10 million fund was announced by New York’s Department of Small Business Services and is designed to help minority- and women-owned businesses in New York City obtain low-interest contract financing loans.  The loans, which can be taken out in amounts up to $500,000, have an interest rate capped at 3%-- more than [...]

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A Look Under the Hood EGF's Online Loan Application

At Excelsior Growth Fund, we value transparency. We believe that being upfront and honest is essential when working with clients and partners. Instructions in loan applications can be vague, lengthy and difficult to comprehend. Our process is different!  That’s why we’re offering a look under the hood at our online loan application. What makes EGF's process so easy? We’re proud to be a Community Development Financial Institution (CDFI) that offers a loan product and [...]

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