FUQUAY-VARINA, North Carolina (January 3, 2021) – Fidelity Bank led the field as North Carolina’s number one Small Business Administration (SBA) lender for 504 lending during the federal government’s most recent fiscal year, which ran from October 2020 to September 2021.
During that period, Fidelity Bank participated in twenty 504 loans valued at $21.6 million. This is the fifth time in six years that Fidelity Bank was the top 504 lender in North Carolina. The Charlotte office of the United States Small Business Administration compiles the lending volume information monthly and ranks the lenders by the number of loans they make. The Small Business Administration 504 loan program provides financing to eligible small businesses with long-term, fixed rate financing for major fixed assets, such as land and buildings.
“Our team is grateful for the opportunity to help small businesses in our communities by participating in the SBA 504 Program,” shared Kale Gaston, Fidelity Bank Director of Government Guaranteed Lending. “The program provides the capital businesses need to help grow, expand, and create jobs.”
Fidelity Bank launched a full-service Government Guaranteed Lending division in early 2021. The new division has grown to 13 employees and continues to expand its footprint across the country and was recently designated as an SBA Preferred Lender.
Fidelity Bank is a full-service financial institution with assets of approximately $3.6 billion headquartered in Fuquay-Varina, North Carolina. The Bank owns and operates 58 branches throughout North Carolina, Virginia, and South Carolina.