Presidential Launches New Online Business Banking Center

10/20/1999
Presidential® Online Bank has announced a major enhancement to its Internet banking site, with the implementation of Presidential's new Business-to-Business online banking system.

Commercial customers will be able to obtain the following kinds of financing online:
  • Working Capital Lines of Credit
  • Government Contractor Financing
  • Equipment Leasing
  • Multifamily Property Mortgages
  • Commercial Real Estate Lending

An important feature of the new Online Business Banking Center is its automated Commercial Loan Pre-Qualifiers.  A potential customer can anonymously enter annualized financial data into the appropriate Pre-Qualifier screen and receive an immediate response indicating the amount of financing for which the customer is pre-qualified.

Customers who then desire to submit an actual financing application, can proceed to enter all relevant borrower information online, avoiding the tedious paperwork frequently involved in business and commercial real estate financing transactions.

Credit amounts of up to $2.5 million will be available online.  Certain financing categories may have lower limits, and larger amounts may also be available on a case-by-case basis.  Other conditions will apply, and all transactions will be subject to credit approval.

Additional categories of commercial and consumer lending will be added to the Presidential®  web site in the near future.  Real time deposit account balance information is currently available.  Online customer initiation of wire and ACH money transfers will also be available soon.