Five Star Bank Expands Small Business Lending Solutions Through Partnership with Numerated
Five Star Bank’s new digital lending capability provides added convenience to small business customers throughout New York State
WARSAW, N.Y., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Five Star Bank (“Five Star” or the “Bank”), the wholly-owned community bank subsidiary of Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), announced an expansion to its suite of small business products and services. Through its partnership with Numerated, Five Star is now offering digital loan origination for small businesses.
New or existing New York State small business customers with a Five Star Bank business checking account may apply for term loans and lines of credit, for total lending exposure of up to
“We understand that business owners need ready access to capital to run their businesses, from managing cash flow to investing in inventory and equipment to support their growth,” said Jeanne Stegmeier, Vice President and Small Business Leader with Five Star Bank. “Through our expanded partnership with Numerated, new and existing small business customers now have the option to apply for a loan or line of credit online, enhancing our ability to provide them with convenient, best-in-class products and services to help their businesses thrive.”
Five Star originally partnered with Numerated to support its active participation in the Paycheck Protection Program (“PPP”) in 2020 and 2021. Through both rounds of the PPP, the Bank provided some 2,900 small businesses with more than
For more information about Five Star Bank’s solutions for small businesses or to apply online for a loan or line of credit, please visit www.five-starbank.com.
About Five Star Bank and Financial Institutions, Inc.
Financial Institutions, Inc. (NASDAQ: FISI) is an innovative financial holding company with approximately
For additional information contact:
Kate Croft
Director of Investor and External Relations
(716) 817-5159
klcroft@five-starbank.com