Press Release

Cross River Named Premier Lender by New Jersey Economic Development Authority

Cross River

May 29, 2024

2 min read

Recognition honors Bank’s efforts bridging the gap for small businesses and underserved communities through financial inclusion

FORT LEE, N.J. - Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, has been recognized as a Premier Lender by the New Jersey Economic Development Authority (NJEDA), distinguishing the Company as a leading business lender in the state.

Cross River joins an exclusive list of banks that NJEDA partners with to overcome financial obstacles stalling the growth and expansion of New Jersey based businesses, as well as ensuring businesses in the state have the necessary resources to meet business goals. A lifetime proponent of supporting underserved and underbanked communities, Cross River has provided funding to over 16,000 New Jersey businesses.

“Supporting small businesses with access to working capital—through continuous efforts in our own backyard and beyond—is ingrained in Cross River’s DNA and has been since the moment we opened our doors 16 years ago,” said Eli Hazan, VP of Business Lending. “We’ve evolved our work with the SBA over the years and we are proud of the support we provide to the New Jersey community and to be recognized as a NJEDA Premier Lender.”

The Premier Lender Program provides businesses with access to financing, while enabling lenders with more flexibility through exposure reduction. Known for accelerating business growth with transparent loan origination and processing, Cross River supports a full suite of Small Business Administration (SBA) and conventional business loan programs to fund everything from machinery and equipment, to inventory and working capital, to real estate purchases, refinancing or even, acquisitions.

The Company has been an integral supporter of New Jersey businesses and community alike since opening its doors in 2008, actively breaking down barriers to financial inclusion. During the pandemic, Cross River answered the call to support America’s businesses, helping to protect 1.4 million jobs through the disbursement of $13 billion in financial support—many to the smallest of the Country’s businesses.

To learn more about Cross River’s Small Business Lending, please visit: Small Business Lending | Cross River.