Cape Bank Receives Breakthrough Lender Award

COURT HOUSE — As the local economy continues to work to find ways to get back on track, Cape Bank is at the forefront of lending to small business owners – an accomplishment made official when South Jersey’s premier community bank received the Small Business Association (SBA) 2013 Breakthrough Lender Award
“As a community bank, we feel a strong obligation to support all businesses within our region, especially those small business owners who work so hard to keep our local economy viable,” said Cape Bank President and Chief Executive Officer Michael D. Devlin. “We’ve been aggressive in letting the community know that Cape Bank is lending, and this award is further proof and a great testament to Cape Bank’s willingness to put our financial resources to work throughout South Jersey.”
Figures available through SBA’s New Jersey District Office showed that Cape Bank was number one in Atlantic County in loan volume ($3,273,00), average loan amount ($654,600) and the total number of loans issued (five) for the period Oct. 1, 2012, and July 31, 2013. Cape Bank’s next nearest competitor issued $815,000 less in total SBA loans during that same period.
Cape Bank’s efforts helped propel the district to its 3rd best year on record. In total, the district did 1,162 loans for $634,454,600 million for FY 2013. These loans have helped create and retain jobs, while continuing to have a significant effect on New Jersey’s economy.
Cape Bank offers a variety of commercial loan products, including Lines of Credit, Commercial Real Estate Loans, Equipment Loans and Construction Financing. It operates Loan Production Offices in Atlantic, Cape May, Burlington and Mercer Counties, New Jersey, and Radnor, Pennsylvania. To learn more, call a knowledgeable commercial loan officer at 800.858.BANK, ext. 3030.