Grasshopper Unveils Innovator Term Loan to Power Small Business Growth

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New unsecured loan offering highlights the Bank's commitment to fueling entrepreneurship and providing greater access to capital for small businesses

NEW YORK, NY / ACCESS Newswire / October 22, 2025 / Grasshopper, the client-first, full service digital bank, today announced several key lending developments, including the rollout of its Innovator Term Loan, a new unsecured loan offering built to power growth for small- and medium-sized businesses (SMBs) across the innovation economy. The launch of the term loan reflects Grasshopper's commitment to helping entrepreneurs scale, combining speed, flexibility and transparency in a digital experience.

In addition to the Bank's current status as a Small Business Administration (SBA) preferred lender offering 7(a) and 504 loan products, eligible small business banking clients can now obtain a term loan ranging from $25,000 to $200,000 via a digital, frictionless application process. Upon approval, a borrower can receive funds in their Grasshopper business account as quickly as the same day, providing predictable, flexible financing to fuel areas such as growth, equipment investment, or working capital needs.

Alongside this launch, Grasshopper has expanded its digital lending capabilities with its technology partners MANTL and Alloy for the front end application and decisioning, and EnFi to assist in leveraging artificial intelligence in underwriting and portfolio monitoring for larger SBA and commercial loans. To further support its growth initiatives, the Bank also expanded its Digital Lending team with a 34% increase in headcount in 2025.

Grasshopper's latest hires build on the Bank's previous strategic appointments and investments in technology, aimed at further digitizing and streamlining its lending operations, as well as its recent entry into digital affinity banking and lending through its acquisition of Auto Club Trust (ACT).

Together, these efforts paved the way for the launch of the unsecured term loan, a meaningful addition to Grasshopper's Innovator product suite that now provides SMBs with timely, flexible financing in combination with award-winning deposit and treasury management services.

"As we expand our lending team and roll out new products, Grasshopper is empowering our clients to access the funds they need quickly, conveniently and on the terms that fit their needs," said Mike Butler, CEO of Grasshopper. "Each leap forward, whether through new talent or product innovation, brings us closer to our goal of harnessing the power of digital banking to make financing simple, fast, and more accessible to the communities we serve."

To learn more about Grasshopper's Innovator Term Loan, visit the Grasshopper website.

About Grasshopper Bank

With total assets of approximately $1.4 billion, Grasshopper Bank is a client-first, full service digital bank serving the business and innovation economy. Grasshopper Bank replaces the traditional one-size-fits-all approach to banking with a suite of products and services tailored to specific industries and a passionate team of experts with deep expertise in their fields. Grasshopper Bank's banking solutions cover small businesses, startups, venture capital and private equity firms, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, yacht lending, and white-labeled consumer banking. Headquartered in New York, New York, the bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, visit Grasshopper Bank's website at www.grasshopper.bank or follow Grasshopper Bank on LinkedIn or X.

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SOURCE: Grasshopper