Agreement Provides Small Businesses with the Ease and Simplicity
of Online Lending with Size and Influence of a Leading Banking
Institution
Regions
Bank and Fundation Group LLC today announced an agreement that will
combine the strengths of one of the nation’s largest full service banks
with that of a leading online lender to provide small businesses with a
first of its kind, coordinated delivery of lending solutions.
Small business owners looking to grow and expand, or to better manage
cash flow, will have the option to access Fundation’s online application
directly from the Regions.com
website. This new co-branded online customer experience will allow small
businesses to expedite their loan applications for Regions lending
products or elect to apply for a Fundation loan.
“Small businesses continue to drive growth throughout the economy, and
in order to meet their ever-evolving needs and desire to utilize online
and digital processes, the financial services industry must provide
innovative solutions that offer flexibility, speed, and capital access
in a responsible manner,” said Joe DiNicolantonio, head of Regions
Business Banking. “We know that 20 percent of small business owners in
the U.S. are already turning to online lenders to meet their credit needs1.
This unique agreement with Fundation allows Regions Bank to expand loan
product offerings and method of delivery for small businesses while also
cultivating long-term revenue and loan growth opportunities.”
Commenting on the relationship, Sam Graziano, CEO of Fundation, said,
“This agreement is a first-of-its-kind for the online lending industry.
Regions and Fundation made a commitment to develop a highly integrated
and coordinated approach to serve the small business market in Regions’
footprint. Regions brings a powerful brand, an outstanding retail
distribution franchise and an already very strong set of capabilities in
delivering credit products to small businesses. By leveraging our
digital infrastructure, we expect to enhance Regions’ leadership
position in its footprint and meaningfully accelerate the growth of our
own business.”
Fundation offers a streamlined online loan application with a high-touch
concierge service to offer loan applicants valuable information and
insight about the loan process and their loan application. Small
businesses can apply for a loan in less than 10 minutes and loans can be
funded in three days. To apply, customers simply visit Regions.com/smallbusiness
and are directed through a link from Regions.com
to Fundation’s online application.
About Fundation
Fundation is a leading online direct lender, providing small businesses
with a simple and efficient online borrowing experience that leverages
technology to streamline the collection of customer data, expedite the
application process and offer customers unprecedented transparency. The
company offers conventional term loans to small businesses nationwide
for working capital, growth and expansion. Visit http://www.fundation.com
for more information.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $122 billion in assets, is
a member of the S&P 500 Index and is one of the nation’s largest
full-service providers of consumer and commercial banking, wealth
management, mortgage, and insurance products and services. Regions
serves customers in 16 states across the South, Midwest and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,630
banking offices and 2,000 ATMs. Additional information about Regions and
its full line of products and services can be found at www.regions.com.
1 “The Joint Small Business Credit Survey, 2014,” a
collaboration among the Federal Reserve Banks of New York, Atlanta,
Cleveland and Philadelphia. Released February 2015.
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