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Scott D. Swingle
Senior Vice President and
Team Lead
Business Banking
Sussex County Loan Office
Wilmington Savings Fund
Society, FSB/WSFS Bank
Q: Does Sussex Sussex County’s Low-Interest
Loan Program Is a Success
County have the
financial institutions and resources to serve
new and expanding companies? Sussex County launched the “ExciteSussex” low-interest
A: I am often asked, “How’s business?” loan program in 2018 and has made $24 million available
to new businesses and existing businesses in Sussex County
and it’s always exciting to be able to
share that business is vibrant in Sussex County. looking to expand. Today, many businesses have successfully
While the traditional economic development taken advantage of accessible loans under the program.
engines have been the agriculture, tourism and
real estate sectors, more recently manufacturing, “The goal of the loan program is to attract new businesses to
service and trade, healthcare, education and Sussex County and incentivize existing businesses to expand
public works projects play an equally important through access to capital,” said Bill Pfaff, Director of the
role in making Sussex County the attractive Sussex County Economic Development Office.
community to both live and work. Our favorable The loans may be used for machinery and equipment; real
tax environment, natural resources such as estate acquisition and renovations; and tenant improvements.
beaches and parks and demographic trends Closing costs may be financed, and there is no application
position Sussex well for future economic growth.
fee. Loan applications are evaluated by the County and
Sussex County is home to a variety of financial managed by the Grow America Fund.
institutions — from smaller, community-based
banks to much larger regional and national Qualified applicants can borrow between $250,000 and $1
institutions. Each bring a level of product and million, with terms ranging from 10 to 25 years. In addition
service commitment to satisfy customer needs, to existing Sussex County businesses desiring to expand, the
ranging from more traditional deposit, cash County will heavily target businesses located in the Mid-
management, lending and wealth management Atlantic region to relocate or expand in Sussex County.
needs to more complex and customized The loan program is a private-public partnership between
corporate and middle-market financing packages. Discover Bank, the Grow America Fund and Sussex County
Longstanding relationships in the banking,
government, industry/business and residential government. The federally guaranteed loan program is open
communities help facilitate positive outcomes. to borrowers who have at least 10 employees and have been
in business for at least two years.
At WSFS Bank, “We Stand For Service.” It’s not
just a slogan — it’s part of our name. It’s woven Pfaff noted that, between this loan program, the County’s
into the fiber of everything we do. This unique Economic Development Zones (Nanticoke, Broadkill and
approach to personal service has set us apart Indian River), as well as the five Opportunity Zones located
for nearly 200 years — and it’s what continues to in mid- and western Sussex County, the package creates a
fuel our growth today. nice trio of incentives that make Sussex County the place to

From startup businesses plans to larger start or expand a business.
institution goals, WSFS can help you design a “In addition to attracting and growing businesses, this loan
program that is right for you and your business.
WSFS associates are active community partners, program will also create new, high-paying jobs in areas that
knowledgeable and experienced. They advise are economically depressed in Sussex County,” said Pfaff.
and provide solutions to our customers. You will For more information on the ExciteSussex loan program
find a ready and engaged financial partner for and the Sussex County Economic Development Office, visit
your business in Sussex County. We hope to see ExciteSussex.com/ExciteSussexFund.
you soon!

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