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July Edition 2023

Grasshopper Bank – A client-first digital bank built for the business and innovation economy

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One of the most significant boons of technology in the banking sector is the introduction of Digital Banking. It has revolutionized the financial landscape in the country and provided customers with a banking experience like never before. With consumers leveraging digital technologies in almost all aspects of their lives, offering a similar level of convenience and flexibility is essential for every industrial sector, including banking. Customers now expect their banks to offer on-the-go banking services that are convenient, quick, and secure. The use of digital technologies enables banks to fulfill these requirements. Digital banking is the new best thing that could have happened to mankind. In fact, not only has it provided a means of convenience for today’s banking times, it has also helped individuals to go paperless. Through Digital Banking, individuals can now easily make transactions, check their account balance or even make transfers just with a single click of a button on their smartphone, desk top or any other digital device. No more requesting or looking over paper statements or withdrawal slips, any longer.

Grasshopper is a client-first digital bank serving small businesses, startups, and investors supporting them across the innovation economy. Its digital solutions cover small business, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing. Privately owned and headquartered in New York City, the bank is a Federal Deposit Insurance Corporation member and is an Equal Housing/Equal Opportunity Lender.

Flexible Lending Solutions

Flexible financing solutions, secure operating accounts, powerful treasury management tools, and dedicated support designed for all stages of the Fund lifecycle and unique needs of your Firm. Grasshopper's flexible financing solutions support all stages of your Firm, including your fund's lifecycle, optimizing cash flow, and return on your investment.

  • General Partner (GP) Term Loans: Grasshopper can finance up to 70% of the GP’s commitment to the fund.
  • Fund Capital Call Lines of Credit: Lines of credit to bridge timing between investments, and receipt of capital call proceeds from investors.
  • Management Company Working Capital Line of Credit: Working Capital Revolvers to bridge timing between receipt of management fees and payment of Firm expenses.
  • End of Life Facility: Net asset value loans for end of fund life needs.

Solutions designed to propel your Firm forward

SBA Lending: As an SBA Preferred Lender, Grasshopper can reduce timing and documentation hurdles and helps you achieve your funding goals sooner. Backed by the Small Business Administration, we offer SBA 7(a) and SBA 504 loans. As an SBA Preferred Lender, we can reduce timing and documentation hurdles and help you achieve your funding goals sooner. Backed by the Small Business Administration, SBA loans typically offer lower down payments and competitive terms. The SBA 7(a) loan is the most common SBA loan product, offering financing for virtually all business expenses. An SBA 7(a) loan is a good option for acquisitions, partner buyouts, real estate purchases, refinance and more. SBA 504 loans are long-term, fixed-rate financing for real estate purchases and buildouts. Grasshopper’s 504 loans can include acquiring commercial real estate, financing improvements within that real estate, and purchasing large equipment.

API Banking: Integrate your digital banking data with your business data the way you want. Application program interfaces (APIs) communicate between their banking core and your platforms. This allows you to securely send and receive payments and seamlessly manage your finances all from your current operating system. Grasshopper’s embedded payments platform enables businesses to benefit from an innovative, industry-leading digital banking solution. The combination of Treasury Prime’s API expertise and Grasshopper's unique product capabilities delivers a highly efficient and effective API Banking experience. Their dedicated BaaS team has been in the fintech industry for more than a decade and combined we have launched over 50 partnerships. They understand technology, will help navigate the regulatory environment, work tirelessly to get your business to market quickly and be a strategic partner to help you be successful over the long term.

Mike Butler | Chief Executive Officer

Michael “Mike” Butler is an innovative leader in the financial services industry with a unique perspective on delivering superior customer service and leading cutting-edge technology to clients. Most recently, as President and CEO of Radius Bank, Mike was at the forefront of embracing technology, and leading a once-traditional bank to become one of the most tech forward banks in the country, garnering numerous awards for the quality of its digital banking platform and building a valuable banking business. Prior to joining Radius, Mike served as President, National Consumer Finance at KeyCorp in Cleveland, Ohio. He is a graduate of Providence College and the ABA's Stonier Graduate School of Banking. With Mike Butler at the helm, Grasshopper Bank continues its journey to become one of the leading tech-forward banks, rooted in a core venture business and supporting the innovation economy.

“We pride ourselves on building relationships and devising effective financing structures that produce optimal results for our clients.”