Delaware Congressional Delegation Commends WSFS Bank on New Small Business Loan Program

New loan program available for businesses to invest in creating jobs

WILMINGTON – Today, Sens. Tom Carper and Chris Coons, and Rep. John Carney (all D-Del.) commended WSFS Bank for launching its new Small Business Loans-for-Job Creation Program. WSFS announced that $25 million is available in loans to help eligible small businesses grow and hire new employees.

Under the program, creditworthy businesses with annual revenues up to $10 million that commit to using the funds for immediate investment – including equipment investment and hiring of employees – will be eligible for loans up to $500,000 with no closing costs or other bank fees until the end of 2011.

“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.”

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.