Cross River Bank, the Fort Lee-based fintech institution, has been recognized as a “Premier Lender” by the New Jersey Economic Development Authority, the bank announced Wednesday.
The Premier Lender program provides businesses with access to financing while enabling lenders to have more flexibility due to exposure reduction.
“Supporting small businesses with access to working capital—through continuous efforts in our own backyard and beyond—is ingrained in Cross River’s DNA and has been since the moment we opened our doors 16 years ago,” Eli Hazan, vice president of business lending, said in a prepared statement. “We’ve evolved our work with the SBA over the years and we are proud of the support we provide to the New Jersey community, and to be recognized as an NJEDA Premier Lender.”
Cross River joins a list of banks that the EDA partners with to overcome financial obstacles stalling the growth of New Jersey-based businesses. Cross River has provided funding to over 16,000 firms in the state since it opened in 2008, it noted.
The bank also said it supports a full suite of Small Business Administration and conventional business loan programs to fund all manner of business needs, from equipment to capital to real estate and acquisitions.
