FUQUAY-VARINA, North Carolina (May 5, 2023) – 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 2021 to September 2022. Fidelity Bank was also recognized as a top SBA 7(a) lender and received a Silver Award at the 2023 Southeastern Small Business Lenders Conference that took place in March. The growth and accomplishments of the Fidelity Bank Government Guaranteed Lending division over the last year have made a tremendous difference to the vitality of small business across the United States.
Fidelity Bank participated in nineteen 504 loans valued at $19,524,000 and twenty-six 7(a) loans valued at $18,120,000. This is the sixth time in seven 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 SBA 504 loan program provides long-term, fixed rate financing to eligible small businesses for major fixed assets, such as land and buildings. The SBA 7(a) loan program provides funding for real estate acquisition, business acquisition, improvements, equipment, debt refinance, partner buyout, or working capital.
“We are honored to help small business owners achieve their goals through SBA loan programs focused on capital preservation,” shared John Golsen, Fidelity Bank Director of Government Guaranteed Lending. “These loan programs enable our borrowers to start new businesses, expand their existing businesses, and acquire fixed assets to facilitate their growth initiatives while creating new job opportunities in their communities.”
Fidelity Bank launched a full-service Government Guaranteed Lending division in early 2021 and became an SBA Preferred Lender in December 2021. Since its launch, Fidelity Bank has funded eighty-eight SBA loans totaling $72,927,003. The division has grown to 20 employees and continues to expand its footprint across the country.