Regions Bank, fintech lender Fundation Group and TruFund, a community development financial institution (CDFI) are partnering to provide small dollar loans to underserved small businesses.

Through this collaboration, underserved small businesses that may not be eligible for traditional bank loans will have the opportunity to apply for small dollar loans for working capital and expansion.

This agreement allows more small businesses to benefit from TruFund’s hands-on approach to helping small businesses. Using the online lending expertise of Fundation, small business clients will have increased availability and access to funding, as fast as 48 hours from application. Regions has also pledged to provide capital, assisting both TruFund and small business customers.

“Regions has worked with both TruFund and Fundation in the past, and bringing these two organizations together is a natural fit. It expands both of their abilities to meet client needs and provides more access to credit for small businesses,” said Joe DiNicolantonio, executive vice president, Commercial Banking at Regions Bank.

Sam Graziano, CEO of Fundation Group said, “This program is exactly what Fundation is built for, combining our technology and small business lending expertise with the capabilities of our partners to expand access to capital for small businesses.”

“This unique partnership will provide small business owners with an affordable source of microloan capital,” said James H. Bason, president of TruFund Financial services. “The way small businesses borrow money is being transformed, with faster and easier ways to access credit, and TruFund is proud to have worked with Regions Bank and Fundation to find an innovative solution that supports economic growth and increases access to credit in the small business community.”

Fundation Group is a digitally-enabled lender and credit solutions provider.

TruFund Financial Services is a wholly independent national non-profit Community Development Financial Institution (CDFI).