First Niagara Financial Group, Inc. (NASDAQ: FNFG) today introduced “redesigned” small-business lending services.
The banking company is offering a “ready access” line of credit, which is an unsecured line of credit.
Qualified small businesses can access up to $50,000 on an unsecured basis, with no need to re-apply once approved, First Niagara said.
The banking company has also increased the term length on business loans up to seven years and has shortened the average loan-approval cycle time for a business loan.
The changes follow First Niagara’s introduction of new small-business checking accounts in 2013, the banking company said.
“Small business is big business for First Niagara,” John Golding, the company’s small-business director, said in the news release. “We recognize the important role that small businesses play in the revitalization of our local economies and we are committed to helping small-business owners thrive and grow.”
First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., operates about 420 branches and has $37 billion in assets, $27 billion in deposits, and 6,000 employees across New York, Pennsylvania, Connecticut, and Massachusetts.
First Niagara Financial Group will release its 2013 fourth-quarter earnings before the market opens on Friday.
Contact Reinhardt at ereinhardt@cnybj.com
OSWEGO, N.Y. — Oswego Health says it had the system’s first robotically assisted surgery using…
JOHNSON CITY, N.Y. — Tioga State Bank (TSB) will open a new branch in Johnson…
UTICA, N.Y. — A report by the Oneida County Childcare Taskforce made a number of…
ITHACA, N.Y. — Cayuga Health System (CHS), based in Ithaca, and Cancer Resource Center of…
DeWITT, N.Y. — MACNY, the Manufacturers Association will use a $6 million federal grant to…
SYRACUSE, N.Y. — The Syracuse Housing Authority (SHA) and the City of Syracuse will use…