Small Business Lending Sample Clauses

Small Business Lending. Baseline amounts for all categories are the sum of First Citizens Bank’s 2016-2018 average loan units combined with the sum of CIT Bank’s 2016-2018 average loan units. The new commitment amounts are the baseline amounts compounded annually at the increase percentage listed below. These commitments can overlap with each other. For example, a loan to a small business in an LMI census tract with annual revenue <= $1 million can be credited against both categories. Having separate goals ensures that each category will see an increase as a result of this agreement. The goals are not mutually exclusive because setting up mutually exclusive goals would create unintended consequences. For example, a mutually exclusive goal for lending to businesses in LMI census tracts would mean that goal could only be satisfied by lending to businesses above $1 million in revenue that are located in LMI census tracts. Baseline small business lending to businesses in LMI census tracts: 9,256 loans average, 46,280 loans over five years New commitment: 52,139 loans over five years (baseline compounded 4% annually 2021-2025) Increase: 20% over five years Baseline small business lending to businesses with <= $1 million in gross annual revenue: 11,758 loans average, 58,790 loans over five years New commitment: 66,233 loans over five years (baseline compounded 4% annually 2021-2025) Increase: 20% over five years Widespread Increase (Small Business Lending) First Citizens commits to distributing this increase across First Citizens footprint with each state experiencing an increase over the course of the agreement. First Citizens agree to work with NCRC as part of the annual reporting of the progress of this agreement to provide a breakdown of lending progress at the state level, and how this compares to the previous lending of First Citizens and CIT.
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Small Business Lending. In 2020 (page 259 of report) Citizens lending to small business ranked 1st in its Small Business Lending compared to other city depositories. SMALL BUSINESS LENDING STRATEGY Citizens Bank is committed to meeting the needs of our business banking customers at every stage of their company’s life cycle. Our goal is to simplify the way businesses get funding so they can focus on operating their business. Listed below are outlines of our recent initiatives to expand our small business lending reach and capabilities: Partnership with new lending platform Citizens Bank views small businesses as the economic engines of our local communities and is committed to fueling small business growth. Because of this commitment, Citizens continuously develops new partnerships and products to create better end-to-end experiences that are tailored to meet the needs of the communities we serve. In 2018 we extended our lending capabilities to a digital small business lending platform which enables small businesses to quickly and easily apply online for loans, lines of credit and credit cards. Citizens goal is to position small businesses for success and growth and the new service, and the new platform has enabled small businesses to quickly and easily apply for loans and lines of credit up to $150,000 through a simple online application. In most cases customers are notified of approval decisions the same business day, and loans are funded within three business days. SBA Expansion Citizens Bank is a preferred SBA Lender and participant in U.S. SBA Loan programs. These programs provide more flexible terms, lower down payment requirements and an easier qualification process than conventional loans. Since 2018, Citizens has focused on expanding and enhancing our SBA Lending capabilities to better serve the community. We have dedicated underwriters, portfolio managers, sales support specialists and business development officers. Small Business Community Partnership and Engagement • Citizens actively partners with several organizations that work with small businesses and is an active participant in several small business initiatives. Examples include (but aren’t limited to): • Partner with Community First Fund/Finanta, The Enterprise Center, Local Initiatives Support Corporation, WORC, EntrepreneurWorks and other community development financial institutions (CDFI’s) and small business organizations to deliver Business Technical Assistance. • Created a Small Business Opportunity Fund p...
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Small Business Lending 
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Related to Small Business Lending

  • UTILIZATION OF SMALL BUSINESS CONCERNS Seller agrees to actively seek out and provide the maximum practicable opportunities for small businesses, small disadvantaged businesses, women-owned small businesses, minority business enterprises, historically black colleges and universities and minority institutions, Historically Underutilized Business Zone small business concerns and US Veteran and Service-Disabled Veteran Owned small business concerns to participate in the subcontracts Seller awards to the fullest extent consistent with the efficient performance of this Contract.

  • SMALL BUSINESS PARTICIPATION AND DVBE PARTICIPATION REPORTING REQUIREMENTS a. If for this Contract Contractor made a commitment to achieve small business participation, then Contractor must within 60 days of receiving final payment under this Contract (or within such other time period as may be specified elsewhere in this Contract) report to the awarding department the actual percentage of small business participation that was achieved. (Govt. Code § 14841.)

  • Substance Abuse Treatment Information Substance abuse treatment information shall be maintained in compliance with 42 C.F.R. Part 2 if the Party or subcontractor(s) are Part 2 covered programs, or if substance abuse treatment information is received from a Part 2 covered program by the Party or subcontractor(s).

  • Permitted and Required Uses/Disclosures of PHI 3.1 Except as limited in this Agreement, Business Associate may use or disclose PHI to perform Services, as specified in the underlying grant or contract with Covered Entity. The uses and disclosures of Business Associate are limited to the minimum necessary, to complete the tasks or to provide the services associated with the terms of the underlying agreement. Business Associate shall not use or disclose PHI in any manner that would constitute a violation of the Privacy Rule if used or disclosed by Covered Entity in that manner. Business Associate may not use or disclose PHI other than as permitted or required by this Agreement or as Required by Law.

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