Washington, D.C. (January 22, 2021) – The Washington Area Community Investment Fund (Wacif) today announced its participation in the second round of the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) through a partnership with community bank Customers Bank and fintech SmartBiz. Prospective applicants can click here to begin the application process.
“Wacif is committed to maximizing the resources available to underserved DC area entrepreneurs as they begin the long-term process of recovering from the pandemic,” Wacif CEO Harold Pettigrew, Jr. “We thank Customers Bank and SmartBiz for their partnership and encourage prospective applicants to review PPP resources and requirements and then begin their applications.”
Through this innovative partnership, borrowers will receive a PPP loan through Customers Bank. The PPP application will be submitted using SmartBiz’s online platform. Wacif is serving as a trusted referral partner. Applicants will first complete a brief Wacif intake form, before being referred to the SmartBiz site to complete the PPP application, with their application being considered for a PPP loan from Customers Bank.
To begin the PPP loan application process, click here to first complete the Wacif intake form. For questions regarding Customers Bank’s PPP loan terms, please email Miguel Alban at . For questions and support with SmartBiz’s online interface, please email . For other PPP-related questions and resources, please visit www.wacif.org/ppp or email .
About the Washington Area Community Investment Fund
The Washington Area Community Investment Fund, Inc. (Wacif) is one of the Washington, D.C. metropolitan’s area’s leading Community Development Financial Institution (CDFI) focused on small business development. Wacif’s mission is to increase equity and economic opportunity in underserved communities in the Washington, D.C. area by investing knowledge, social, and financial capital in low-and-moderate-income entrepreneurs. To learn more about Wacif’s mission, visit www.wacif.org.
About Customers Bank
Customers Bank, a subsidiary of Customers Bancorp, Inc. a bank holding company, is a full-service super-community bank with assets of approximately $18.8 billion at September 30, 2020. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. Customers Bancorp, Inc.’s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. Additional information can be found on the company’s website, www.customersbank.com.
SmartBiz Loans® (www.smartbizloans.com) is the #1 online platform for traditional SBA 7(a) loans under $350,000 helping banks and their clients streamline the SBA and small business lending process. SmartBiz has helped banks on the platform process more than $4 billion in PPP, SBA 7(a), and bank term loans serving over 20,000 businesses and supporting 300,000 jobs.
SmartBiz Loans is based in San Francisco and was founded in 2009 by a team of experienced financial services entrepreneurs with backing from leading venture capital firms including Venrock, Investor Growth Capital, First Round Capital, Baseline Ventures, and Uncork Capital. Learn more at www.smartbizloans.com.