Citizens Bank announced a partnership with Fundation Group — a leading digitally-enabled lender and credit solutions provider to regional and community banks — that will expedite and expand small business loan approvals.
The added capability will enable small businesses to apply for loans and lines of credit through a simple online application at citizensbank.com, with approval granted in minutes and loans funded in as little as three business days. Additionally, Fundation will offer credit to some customers who do not meet Citizens’ credit guidelines, helping the bank serve more small businesses and address their customers’ needs.
“We know that time is valuable for our business banking customers. This simple digital application process will be quicker and more efficient for customers making smaller requests for credit, enabling them to get back to running their businesses sooner,” says Chris Ward, head of business banking for Citizens Bank. “We believe that our new, automated lending platform will complement the tailored, advice-based services available through relationship managers and bankers to our customers who need larger loans or have more complex needs such as cash management.”
This continues Citizens’ strategy of leveraging innovative digital technologies that create better end-to-end customer experiences. The service is expected to be available in mid-2017.