WSFS Financial Corporation (NASDAQ:WSFS), the parent company of WSFS Bank, today announced that it has created the WSFS Small Business Loans-for-Job Creation Program. Under this new program, through the end of 2011, WSFS Bank will make available a special pool of $25 million to qualified small businesses located throughout the marketplaces it serves.
“In supporting our mission to strengthen our communities, the WSFS Small Business Loans-for-Job Creation Program will provide loans to help small businesses grow immediately and help fuel the broader economy,” said Mark A. Turner, WSFS President and Chief Executive Officer. “WSFS has been lending to businesses throughout this extended downturn,” continued Mr. Turner. “We also know small businesses are the engine of job creation and they have been hit especially hard over the last several years. Creating this program allows us to do our part to support small businesses right here, right now.”
“WSFS has a long record of helping Delawareans access the credit they need to start and grow a business,” said Sen. Carper. “It’s been tough out there the past several years for small business owners to find affordable access to capital, and I’m proud that a Delaware community bank is helping to extend this much needed credit to Delaware small businesses. I applaud WSFS’s Small Business Loans-for-Job Creation Program, which is another step in the right direction to get our economy moving and help put Delawareans back to work.”
“This announcement from WSFS is exciting news for Delaware’s business community,” Sen. Coons said. “The WSFS Small Business Loans-for-Job-Creation Program is a model for the type of institutional support that businesses need to grow and create jobs, and I’m optimistic that it will give Delaware’s economy a much-needed shot in the arm. This is how communities help get people back to work – by working together to help small businesses grow and create jobs. This program is win-win for Delaware.”
“Helping small businesses succeed is critical to creating jobs and strengthening the economy,” said Congressman Carney. “I applaud WSFS Bank for developing the Small Business Loans-for-Job Creation Program and making resources available that will directly benefit small businesses in our community. This is exactly the type of support needed to grow the economy and help get Delawareans back to work.”
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.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.2 billion in assets on its balance sheet and $9.3 billion in fiduciary assets, including approximately $1.0 billion in assets under management. WSFS has 48 offices located in Delaware (38), Pennsylvania (8), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Investment Group, Inc., Cypress Capital Management, LLC and Cash Connect. Serving the Delaware Valley since 1832, WSFS is the seventh oldest bank in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.