Citi launches SME lending platform

Citi has announced the launch of a new digital lending platform to help small and medium sized businesses connect with regional, local, and community banks online for loans of up to $10 million.

‘Bridge built by Citi’ is part of the bank’s wider plans to expand its digital-first portfolio for financial services.

The platform will initially include 18 banks and will be available through a pilot programme across the Southeast and Rockies regions of the US.

"Citi believes in the power of local, small businesses and continues to find ways to support businesses that are the foundation of communities across the U.S. Citi funded loans totalling more than $5 billion as part of the Small Business Administration’s Paycheck Protection Program during 2020 and 2021,” said Richard Banziger, head of Citi’s US commercial bank. “As both a lender and a community stakeholder, we have a deep understanding of the problems businesses face when trying to navigate the borrowing process.”

Banziger added: “We are committed to finding digital solutions that can make the process easier, more seamless and more equitable.”

The digital lending platform is designed to help “democratise” the loan process for lenders and borrowers, enabling capital access for smaller business owners impacted by the pandemic and populations that have historically been underserved.

    Share Story:

Recent Stories


The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.