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Umpqua Bank Launches E3 Business Lending Program

February 06, 2015, 06:50 AM
Filed Under: Industry News
Related: Umpqua Bank

Umpqua Bank, a subsidiary of Umpqua Holdings Corporation introduced its new E3 Business Lending Program, which streamlines the commercial loan process and allows businesses to access specific credit products within an industry-leading 48 hour approval time in most cases. The program includes commercial and industrial loans of $1 million or less. More than 80 percent of the loans in Umpqua’s commercial loan portfolio would fall within this category.

“Providing local businesses with access to the financial resources and expertise they need in order to grow is an essential part of investing in the communities Umpqua serves,” said Cort O’Haver, Umpqua Bank’s president of commercial banking. “Umpqua is always looking for how we can deliver bank products and services differently. With E3, we’re enhancing the expertise of our commercial banking teams with an industry-leading program to help our customers secure the capital they need.”

The E3 Business Lending Program streamlines the credit evaluation process, allowing Umpqua to evaluate credit requests of $1 million or less in an accelerated manner. More complex applications that require additional expertise or information will continue to be managed through Umpqua’s existing commercial banking and credit programs.

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