BUFFALO, N.Y., January 23, 2014 – First Niagara Financial Group, Inc. (NASDAQ:FNFG) today introduced redesigned Small Business Lending products and services focused on the evolving needs of its small business customers.
To further enhance the service it provides to small business customers, First Niagara has introduced the Ready Access Line of Credit, an unsecured line of credit. Qualified small businesses will be able to access up to $50,000 on an unsecured basis, with no need to re-apply once approved. The 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. These product changes follow the successful introduction of new Small Business checking accounts in 2013 (BIZ 200/500).
“Small business is big business for First Niagara,” said John Golding, the company’s Small Business Director. “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 will continue to evolve its products as the needs of its customers change including digital enhancements to allow business owners to bank when, where and how they wish to do business.
About First Niagara
First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with approximately 420 branches, $37 billion in assets, $27 billion in deposits, and 6,000 employees providing financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts.