On The Waterfront: Small Business Loans

Posted in On The Waterfront: newburgh News

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(NEW YORK)  Excelsior Growth Fund (EGF), a nonprofit Community Development Financial Institution formed by New York Business Development Corporation (NYBDC) to address underserved markets and to implement targeted programs that address the needs of low-income and otherwise underserved small business owners, has created an online lending platform for small business owners.

Small Business Loans Available for Newburgh

 

Designed by EGF partner Mirador, the platform is customized to EGF’s credit criteria and the entire application process is completed online at www.excelsiorgrowthfund.org. The signature loan product, the EGF SmartLoan™, provides flexible financing of up to $100,000 for working capital, machinery and equipment, or other uses.

Applicants can pre-qualify within minutes. Completed applications can typically be approved within 24 hours and loans can be funded within one week.  The new online loan application will be of particular interest to small businesses that prefer fast access to capital, but with lower payments and more attractive terms than many alternatives provide.

“Qualified small business owners can now apply for capital 24 hours a day, 365 days a year, and as a Community Development Financial Institution, we have a mission to support neighborhood businesses and provide capital quickly and at attractive terms. This new online lending platform, combined with EGF’s growing suite of advisory services, will help these businesses secure the capital they need to create jobs and grow their business,” said Steve Cohen, president of Excelsior Growth Fund.

We have a mission to support neighborhood businesses.Steve Cohen,  Pres., EGF.