WSFS small business customers create over 100 jobs

WSFS Financial Corporation, the parent company of WSFS Bank, recently 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 its launch in September 2011. Due to the ongoing demand, the program has been extended until June 30.

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 the down 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.”

Small businesses from many industries have benefited from the loans-for-job-creation program, from retail and restaurant operations to investment and educational services to property maintenance and kitchen design companies.

These specific loans and subsequent job creation are in addition to the bank’s primary commercial lending activity, as well as conventional small business lending that further aided growth, expansion and employment.

“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. So far, we have created more than 10 jobs, and when the franchise business takes off, I anticipate many more jobs will be created.”

Through June 30, 2012, 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 877-WSFSBIZ to learn more.