Centric Bank Named Top 100 SBA Lender in the United States
On: January 25, 2017 Filed Under: Member News
HARRISBURG (January 23, 2017) — Centric Financial Corporation, parent company of Centric Bank, has been recognized by the U.S. Small Business Administration on their list of 100 Most Active SBA 7(a) Lenders in the U.S. With $11,969,500 in small business loans in Q4, Centric Bank ranks among the top lenders in the United States by lending volume through December 31, 2016.
In Pennsylvania, Centric Bank ranked #1 lender in total loan dollars in the Eastern District, a region which comprises more than two-thirds of the business landscape in the Commonwealth—40 of 67 counties. Last year, the bank approved 51 SBA loans totaling $45.8 and has become a catalyst for job growth in the state.
“Lending where we live is a centerpiece of community banking,” says Patricia A. (Patti) Husic, President & CEO of Centric Bank. “We understand the opportunities an SBA loan affords—it can be life-changing for small business. Our lenders are immersed in the fabric and culture of the communities we serve and know that access to financing is the number one challenge facing small business owners nationwide. Small business represents 99.7 percent of all employer firms in the United States and has generated over 65 percent of the net new jobs in the country since 1995. As champions of the SBA’s ‘Smart, Bold, and Accessible’ vision, we are proud to ensure SBA loans are available to anyone, anywhere, regardless of social, educational, or financial status.”
“I was looking to partner with a progressive bank that would provide me with the highest level of industry knowledge, customer service, and ability to streamline the SBA process when buying my first business. The team at Centric Bank designed a flawless strategy that gave me an incredible experience from start to finish,” says Kevin Bauer, owner of R3Access, Inc.
“We issued 51 loans to small businesses ranging from restaurants, franchises, and retailers to accounting firms and dentists with a close rate of 100 percent,” says Husic. “Infusing Pennsylvania’s job creators with capital and resources opens opportunities for small businesses to grow and scale.”
“Lending in Eastern Pennsylvania is at an all-time high for SBA’s flagship 7(a) loan program–more than half a billion SBA-backed dollars were loaned to businesses in the district,” says Solomon Wheeler, U.S. Small Business Administration Harrisburg Branch Manager. “Access to this capital is critical for central Pennsylvania small businesses to serve new customers, expand operations, and create jobs for the regional economy. These results are a direct reflection of the continued strong relationships SBA enjoys with our lending partners. One particular partner, Centric Bank in central Pennsylvania, has fully embraced the SBA lending program and done an excellent job in helping small businesses access capital by producing more loans in 2016 than ever before, earning a #1 ranking in the Eastern District and now named to the Top 100 SBA Lenders in the country.”
The year 2016 was a milestone for Patti Husic and Centric Bank. In October, Centric Bank was named a Top Team in American Banker’s 25 Most Powerful Women in Banking, an exclamation point to Husic’s intentional advancement of high-achieving women. Husic herself ascended to #17 in the Most Powerful Women in Banking list, a recognition that has brought national attention to the bank’s organic lending successes and Husic’s commitment to ‘Be the Difference Maker’ for the men and women on Main Street.
About Centric Bank
A three-time Best Places to Work and Top 50 Fastest-Growing Companies for four years, Centric Bank is headquartered in south central Pennsylvania with assets of $482 million and remains the leader in organic loan growth in central Pennsylvania. A locally owned, locally loaned community bank, Centric Bank provides highly competitive and pro-growth financial services to businesses, professionals, individuals, families, and the health care and agricultural industries. With a Five-Star Bauer Financial Rating, Centric Bank, named a Top 100 SBA Lender in the United States, also ranked #1 in approved SBA 7(a) loans in the Eastern District as of December 31, 2016. The bank is also a Top 20 Lender for SBA Loans in the Philadelphia Region.
Founded in 2007, Pennsylvania-based Centric Bank has financial centers located in Harrisburg, Hershey, Mechanicsburg, and Camp Hill, and loan production offices in Lancaster and suburban Philadelphia. To learn more about Centric Bank, call 717.657.7727 or visit CentricBank.com. Connect with them on Twitter at @CentricBank and Facebook at Centric Bank.
Centric Financial Corporation is traded over the counter (OTC-Pink) with the ticker symbol CFCX.