Fifth Third Partners with Fundation on Small Business Loans

Fifth Third Bank has struck a partnership with fintech Fundation to offer small business loans and lines of credit; Fifth Third will use Fundation’s white label lending technology to approve and fund loans within a day, the new product will be named Fifth Third Fast Capital; rejected applications will be pushed to Fundation where they can apply for a loan from the fintech; “We understand that when small businesses need to purchase inventory or create a prototype, they can’t wait or risk losing out on growth opportunities,” Kala Gibson, Fifth Third’s Head of Business Banking, said in a press release according to American Banker. “Fifth Third Fast Capital can help get funds quickly, so they can move forward with their next opportunity.” American Banker