WSFS Financial Corp., parent company of WSFS Bank, announced that through the WSFS Small Business Loans-for-Job Creation Program alone, more than 100 local jobs have been or will be created since the launch of the program in September 2011.
Due to the demand, the program has been extended until June 30, 2012.
WSFS Bank established the Small Business Loans-for-Job Creation Program as one way to encourage small businesses to immediately expand to help spur job creation in a depressed economy.
“We are thrilled to see local businesses benefit from the Small Business Loans-for-Job Creation Program,” said Rick Wright, executive vice president of Retail Banking and Marketing. “With financial support, companies have been able to avoid layoffs, add new employees, purchase equipment and expand capabilities. We are excited to continue this successful program and further aid the broader economy in the communities we serve.”
“With the loan received from WSFS Bank, I was able to acquire an existing business with established clients in a strategic growth market,” said Robert McCusker, president and owner of Cider Mill Landscapes, a landscape design and construction company. “The process from application to settlement took only a few weeks and will afford me the ability to expand my service and increase profits, as well as keep and hire additional employees for years to come.”
“I have enjoyed a long relationship with my small business relationship manager, Kelly,” said Alison Blyth, Owner of go fish! restaurant in Rehoboth Beach. “We discussed the idea of franchising my restaurant but I first needed to build a prototype that could be easily replicated by franchise owners. Thanks to Kelly and WSFS, I was approved for the job creations loan and opened my second restaurant in Lewes, Delaware. So far we have created more than ten jobs, and when the franchise business takes off, I anticipate many more jobs will be created.”
Eligible for the program are creditworthy businesses with annual revenues up to $10 million that commit to using the funds for immediate investment (equipment investment, hiring of employees, etc.) will be eligible for loans up to $500,000 with no closing costs or other bank fees and at an attractive fixed rate. Business owners interested in the WSFS Small Business Loans-for-Job Creation Program can call Cheryl Rodriquez at 1-877-WSFSBIZ to learn more about this program.
WSFS Financial Corporation is a multi-billion dollar financial services company based in Wilmington. Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company with $4.2 billion in assets on its balance sheet and $9.3 billion in fiduciary assets, including approximately $1 billion in assets under management.