Press release
Fifth Third Accelerates Small Business Loans and Lines of Credit
Bank Introduces Fifth Third Fast Capital to Increase Speed from Application to Funding CINCINNATI--(BUSINESS WIRE)-- Fifth Third Bank, National Association,
About this update from Fifth Third Bancorp
[{"type":"text","content":"\nBank Introduces Fifth Third Fast Capital to Increase Speed from Application to Funding\n\n CINCINNATI--(BUSINESS WIRE)--\nFifth Third Bank, National Association, announced today that it is making it easier for small business owners to apply for loans and lines of credit.* Fifth Third Fast CapitalTM will offer a simple application and, in most cases, approvals will be made within minutes. Funding is available to customers in as little as one business day.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200220005130/en/Kala Gibson is the head of business banking for Fifth Third Bank. (Photo: Business Wire)\n\nCollaborating with Fundation to offer Fifth Third Fast Capital’s expanded services to small businesses is another example of Fifth Third’s digital innovation strategy of leveraging partnerships to provide a better customer experience. Fundation, a financial technology company serving the small business market, will offer its own products to customers that do not meet Fifth Third’s loan eligibility guidelines, helping the Bank serve more of its small business customers’ credit needs.\n\n\n“We understand that when small businesses need to purchase inventory or create a prototype, they can’t wait or risk losing out on growth opportunities,” said Kala Gibson, head of Business Banking for Fifth Third. “Fifth Third Fast Capital can help get funds quickly, so they can move forward with their next opportunity. We are here to help you be successful.”\n\n\nMore than a quarter of small business owners struggle to access the funds they need to grow according to a National Small Business Association report from 2017. Businesses that don’t have access to capital have had to reduce the number of employees or are unable to expand operations.\n\n\nWith a focus of serving its customers and keeping them at the center of every decision, Fifth Third’s partnership with Fundation allows the Bank to provide a streamlined application process and faster access to funding. Fifth Third introduced Fast Capital to the Cincinnati market late last year and now is offering the service to all business banking customers.\n\n\n“At Fundation, our mission is to enable our banking clients to give their small business customers the best of both worlds – great products at great prices along with the mod...