Cross River Bank (“Cross River”), a leading innovator and provider of banking services for technology companies, announced a series of initiatives to protect and mitigate the impact of COVID-19 on customers, employees and the community.
“Cross River was founded in the wake of the great recession with a singular focus on community service and we continue to be deeply committed to our staff, partners and the community,” said Gilles Gade, Founder, President, and CEO of Cross River. “Although we are all working remotely, our team is fully operational, and we will continue to collaborate to deliver the assistance our extended Cross River family may need.”
Cross River is addressing possible financial hardships to its impacted consumers and their families due to the economic effects of the pandemic. The Company has offered assistance to its borrowers through a number of measures including forbearance options and short-term loan products for eligible small business and commercial real estate borrowers. In addition, Cross River is working with each of its marketplace lending platforms to provide needed relief options to affected borrowers, providing flexible service options to alleviate financial pressures. Cross River’s system support functions remain fully operational and branch operations have been adjusted to protect the safety of employees and the community.
“No one knows what challenges tomorrow may bring, but in times of need, it’s important to know you have a community partner to lean on,” said Phil Goldfeder, SVP Public Affairs at Cross River. “We have been in constant contact with our partners, elected officials, industry leaders, peers and the community-at-large to continue to be a resource to those impacted in every possible way.”