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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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