LAKE SUCCESS, N.Y., Jan. 6, 2009 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq:FFIC) the parent holding company for Flushing Savings Bank, FSB (the "Bank"), announced that it will now offer business owners and merchants up to $100,000 in short-term funding through the Proceed(sm) Business Loan program. The announcement was made by John R. Buran, Flushing Financial's President and Chief Executive Officer, on behalf of Flushing's Board of Directors.
Mr. Buran stated: "Flushing Savings Bank is proud to be one of the first banks in our marketplace to offer the Proceed(sm) Business Loan program. The lending decision incorporates more than the personal credit score of the owner, it is based on business performance, such as credit card revenue and overall cash flow. The Proceed(sm) Business Loan program can provide up to $100,000 in short-term funding to business owners and local merchants. Additionally, I am pleased that this program will enable the Bank to help local business owners and operators gain access to additional capital, and further serve these customers that have been a large part of making us successful."
The Proceed(sm) Business Loan program offers loans ranging from $5,000 to $100,000, has a simplified application process, provides quick turnaround times, and provides a payment schedule that business owners can handle without stress on their cash flow.
About Flushing Financial Corporation
Flushing Financial Corporation is the parent holding company for Flushing Savings Bank, FSB, a federally chartered stock savings bank insured by the FDIC. The Bank serves consumers and businesses by offering a full complement of deposit, loan, and cash management services through its fourteen banking offices located in Queens, Brooklyn, Manhattan, and Nassau County. The Bank also operates an online banking division, iGObanking.com(r), which enables the Bank to expand outside of its current geographic footprint. In 2007, the Bank established Flushing Commercial Bank, a wholly-owned subsidiary, to provide banking services to public entities including counties, towns, villages, school districts, libraries, fire districts and the various courts throughout the metropolitan area.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "forecasts", "potential" or "continue" or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.
Additional information on Flushing Financial Corporation may be obtained by visiting the Company's web site at http://www.flushingsavings.com.