Cross River to Participate in Next Round of Paycheck Protection Program (PPP)
01/06/21, 3:04 PM
Cross River, a technology-focused financial services organization and Banking-as-a-Service (“BaaS”) provider, today announced that it will be participating in the next round (“Round B”) of the U.S. Small Business Administration (SBA) Paycheck Protection Program (“PPP”). In the initial round of the PPP, Cross River provided more than $6.5 billion in relief to 198,738 small businesses in every state across the U.S., with an average loan size of $33,000.
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Cross River is a fast-growing financial services organization that merges the forward-thinking offerings of a technology company with the established expertise and traditional services of a bank. Since its founding in 2008, Cross River has developed strategic partnerships with leading technology companies, marketplace lenders and payment providers, while maintaining a strong focus on regulatory compliance and consumer protection. Cross River provides a highly secure, API-based banking platform and comprehensive suite of products encompassing lending, payments, risk management and Banking-as-a-Service (BaaS) offerings to deliver responsible financial solutions that empower businesses and consumers anytime, anywhere. Cross River Bank is a New Jersey state-chartered FDIC insured bank. For more information, please visit Cross River’s website at www.crossriver.com or Twitter @crossriverbank.