Flagstar launches New products

October 18, 2010
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Flagstar Bank has launched a set of new business banking products and services “to meet the needs of small businesses in Michigan, Indiana and Georgia.”

"Flagstar Bank is now a one-stop shop for small businesses. Whether they want checking, lending, investment, treasury management products, or online banking, we can meet their needs," Marshall Soura, executive vice president, Corporate Services, Flagstar Bank, said in a news release.

Soura said the bank is initially targeting small businesses that are trying to grow and expand. Flagstar's small business lending program will eventually expand to service larger companies.

"We have half a million small businesses near our branches in Michigan, Indiana and Georgia," Soura said. "Now we can offer them a robust product set tailored to meet their banking needs: credit products to grow and purchase inventory; investment products to maximize their returns; and treasury products to manage their cash flow."

Flagstar is also offering small business clients a variety of choices in checking accounts, along with options such as merchant services and remote deposit.

Flagstar Bank Chairman and CEO Joseph P. Campanelli said this new business banking line will be critical to the transformation of Flagstar into a full-service, super-community bank.

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