Small business owners seeking funding have faced unique challenges for the past several years, and 2022 was no different! Supply chain disruptions, a rise in interest rates, and talks of a recession are just a few of the hurdles owners across the U.S. experienced. Despite the challenges, our team of experts was able to help small business owners get almost $8 million in funding to help them grow.
We are proud to spotlight how our team contributes to economic growth in North Carolina and beyond. Continue reading to see how our lending options kept business moving forward from October – December of 2022.
$7,684,300 In SBA Loans Funded
From October – December 2022, Fidelity Bank helped owners secure almost $8 million in funding to start, grow, or expand their small businesses.
We’re Taking Care Of Business
It’s estimated that only 33% of small businesses will hit the 10-year mark. Why do so many small businesses fail? According to a recent survey, running out of working capital and not being able to secure more funding ranks as the top reason.
In today’s economic climate, business owners need a banking and lending partner that they can rely on. Our dedicated team of lenders helps businesses across the United States secure the funding they need faster. As a Preferred Lender, we can manage the loan process from start to finish without having to submit an application through the SBA first. This can save weeks in processing time. Our responsive and personalized service is what’s helped rank Fidelity Bank among the top ten SBA lenders in North Carolina.
Flexible Lending Solutions
The SBA 7(a) Loan was the most popular loan for business owners this quarter, and for a good reason! This loan was designed to help people get the working capital they need to start, acquire, or expand a small business.
We are able to offer a variety of loans and lending options, including SBA 504 loans, USDA loans, and express lines of credit. Which is right for your business? Access our online learning center or request a free consultation with one of our experts!
We’re Right By You
Business owners have many options when seeking funding. Traditional lenders, online or alternative lenders, marketplaces, and peer-to-peer lenders are among the most popular. However, not all lenders are created equal!
From October to December 2022, our team helped businesses in 5 states across 9 major cities. Our lending experts will work with you to understand your unique goals and then recommend the best solution to meet your needs. No matter where your business operates, we’ll be Right By You.
SBA Lending In Uncertain Economic Times
With rising interest rates, many business owners assume they will have a harder time getting the funding they need. While this may be true for conventional loans, the SBA lending volume often increases in difficult economic conditions.
SBA loan programs are focused on capital preservation, requiring lower down payments and providing longer loan terms than traditional conventional products. In tough economic conditions, these lending options can be the lifeline small businesses need to keep going.
We Help Small Businesses Think Big
In the most recent quarter, we helped small businesses secure funding to finance real estate purchases, equipment, working capital, and more. Our team of knowledgeable SBA lenders is ready to get to know you, and your goals and recommend the most valuable solutions to get you there. More importantly, we’ll be right by your side every step of the way.
Click here to learn more or get in touch with an SBA lending expert and learn how an SBA loan can help you reach your goals.