STRATEGIC PARTNERS
August 20, 2021
Citi has introduced Bridge, a lending platform to help small and medium sized businesses gain access to reginal, local and community banks for loans up to $10 million. The overall goal is to revitalize local businesses impacted by COVID-19, according to a press release.
Customers can submit information in a single form for all lenders, and the platform then automates prospecting. Borrowers and lenders can also track the lending process in real time.
The platform will initially include 18 banks and will be available in Alabama, Colorado, Georgia, Louisiana, North Carolina, South Carolina and Tennessee, according to the release.
"Citi prides itself on encouraging a spirit of entrepreneurship among its employees to solve financial access issues and improve digital offerings for our clients and community partners," Vanessa Colella, Citi CIO, said in the release. "The development and launch of the Bridge built by Citi platform is a great example of the power of innovation that comes from within a global institution like Citi and our ability to build a service that has the potential to change the future of business lending."
