Updates

How Referrals Help Bankers Keep and Grow their Small Business Clients

An ongoing challenge that business owners face is getting the funds they need to start and grow their businesses. While proactively helping your clients get loans and lines of credit is beneficial for both you and them, in reality, it can be challenging for many businesses to meet traditional lending criteria. When that happens, you’ll want to be sure that you’re connecting your client with a funding source that can provide the funds they need. In this article, we’ll share [...]

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EGF Client Eligibility

Small business lenders often work with clients who may be just shy of meeting their institution’s eligibility criteria for commercial loans. Alternatively, they may have had to decline their client for traditional financing, and want to ensure they can get the funds they need to keep growing. That’s why one of the leading questions we get from lenders is, “How do I know if my clients are eligible for your loan products?” It’s simple and easy to determine whether [...]

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Working with CDFIs Can Help You Reach More Small Businesses

Conventional banks and Community Development Financial Institutions (CDFIs) work best when working together. By doing so, we create significant and measurable ripples of success that strengthen our organizations, the clients we assist and the communities we serve. Excelsior Growth Fund (EGF) has worked with many bankers to create win-win situations for them and their clients in New Jersey, New York and Pennsylvania. In this article, we take a closer look at the positive impact of partnerships [...]

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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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