First Internet Bank was named the 2024 Online Lender of the Year by Coleman Report, a prominent publication in the small business lending industry. This award acknowledges the bank's success in combining customer service with technology to deliver flexible financing options and a streamlined SBA loan process to small businesses nationwide. The bank's SBA team has established itself as a top ten 7(a) lender.
The bank reported a significant operational milestone, increasing its total funded 7(a) production to $610 million in 2024, representing a 44% increase year over year. This growth underscores the effectiveness of its national SBA lending platform and its commitment to supporting small businesses. The SBA operations team also expanded by 31% to enhance customer service and expertise.
This recognition and growth in SBA lending are central to First Internet Bancorp's strategy of diversifying revenue streams and optimizing its balance sheet towards higher-yielding assets. The continued expansion of this segment contributes to the company's overall performance and competitive positioning in the digital banking landscape.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.