Excelsior Growth Fund in the News - American Banker
We are pleased to report that EGF has been featured in a recent American Banker article. Throughout the article, writer Kristin Broughton outlines the benefits of the Smartloan™ program, as well as EGF's recent bank partnership with Flushing Financial.
The Smartloan™ program offers low cost loans to online borrowers who do not yet qualify for a bank loan. Looking to provide the fastest financing possible, borrowers can be approved for a Smartloan™ within 24 hours and receive their funding in less than a week. In addition, Excelsior provides business advisory services to their clients to help improve their cash flows and allow them to become bankable in the future.
EGF has recently received its first bank commitment from the $5.7 billion Flushing Financial, offering the bank an opportunity to buy the Smartloan™ product at par once reffered borrowers improve their business profile. Participating banks hope to welcome more small businesses, and provide their clients with quick access to affordable capital. Four other institutions are expected to this month, as EGF continues to expand across the greater New York City area.
Excelsior Growth Fund (EGF) promotes economic development and job creation in New York State by providing streamlined access to small business loans and business advisory services. An EGF SmartLoan™ can help businesses secure working capital, refinance existing debt, purchase machinery and equipment, upgrade technology or hire staff. With the easy to use online loan application, pre-qualification takes minutes; loans are approved and funded within days. 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). For more information, visit www.excelsiorgrowthfund.org