DURHAM – M&F Bank is joining a new Citi Bank-led lending platform to help small-to-medium-sized businesses access loans of up to $10 million.
The North Carolina-based bank – the second oldest minority bank in the U.S. — is one of 18 banks chosen to join the Bridge built by Citi platform that aims to make the borrowing process “more equitable.”
Described as a “digital meeting place,” it allows borrowers and lenders to connect through a “simple online request.” They can also track the loan process in real-time.
“We are excited to be included,” James Sills, M&F Bank’s president and CEO, told WRAL TechWire. “The Bridge platform allows us to cast the net wider to lend beyond our five primary markets using technology.