MultiFunding Releases Philadelphia Region’s Most Committed Small Business Lenders

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Jennifer Sherlock

jsherlock@jennacommunications.com

609.369.3482

FOR IMMEDIATE RELEASE

MultiFunding Releases Philadelphia Region’s Most Committed Small Business Lenders


PHILADELPHIA, October 13, 2011  – In today’s tough economic environment, there are banks making loans to small businesses.  The banks that are actively committed to small business lending deserve all of our recognition and support, as they are focused on our community, helping unemployment, and regional growth.

MultiFunding has compiled its first annual list of The Philadelphia Region’s Most Committed Small Business Lenders.  The 38 lenders included in the ranking are based in Philadelphia, Montgomery, Bucks, Chester and Delaware counties.  They are all regulated by the FDIC and have a minimum of $100 million of deposits as of June 30, 2011.  In order to rank them, each bank’s small business loans are divided by their deposits, as reported in their FDIC call reports.  Small business loans are defined as loans with a balance of $1 million or less.

How can we measure a bank’s commitment to small business?  At MultiFunding, we believe that the data that the banks report to the FDIC on a quarterly basis about their outstanding loans of $1 million or less is an excellent barometer of main street lending.  With this statistic, if there is a loan outstanding with a balance of $1 million or less, it counts.  The aggregate number is affected by a number of factors including loans that go bad, loans that are paid now, loans that the bank insists leave, attrition, and new loans.

“The range of commitment to small business lending amongst the banks in the survey is dramatic,” said founder and CEO of MultiFunding, Ami Kassar.  “Milestone Banks of Doylestown, the top ranked bank in our ranking, leverages 60.48 percent of their deposits to make small business loans.  In contrast, Citizens Banks of Philadelphia, who is ranked the lowest in our ranking, leverages only 3.07 percent of their deposits to make small business loans.”

Ranking Bank City Website
1 MileStone Bank Doylestown www.milestonebank.com
2 Monument Bank Doylestown www.monumentbank.com
3 Noah Bank Elkins Park www.royalasianbank.com
4 Valley Green Bank Philadelphia www.valleygreenbank.com
5 First CornerStone Bank King Of Prussia www.firstcornerstone.com
6 Penn Liberty Bank Wayne www.pennlibertybank.com
7 First Resource Bank Exton www.firstresourcebank.com
8 First Priority Bank Malvern www.fbkp.com
9 Meridian Bank Paoli www.meridianbanker.com
10 Bucks County Bank Doylestown www.buckscountybank.net
11 Iron Workers Savings Bank Aston www.iwsb.com
12 Alliance Bank Broomall www.alliancebk.com
13 Firstrust Savings Bank Conshohocken www.firstrust.com
14 NOVA Bank Berwyn www.novabank.com
15 Eagle National Bank Upper Darby www.eaglenational.com
16 QNB Bank Quakertown www.qnb.com
17 Stonebridge Bank Exton www.stonebridgebank.com
18 The National Bank of Malvern Malvern www.natbankmal.com
19 Conestoga Bank Chester Springs www.conestogabank.com
20 Coatesville Savings Bank Coatesville www.coatesvillesavings.com
21 DNB First, National Association Downingtown www.dnbfirst.com
22 United Savings Bank Philadelphia www.unitedsavingsbank.com
23 Univest  Bank and Trust Co. Souderton www.univest.net
24 Republic Bank Philadelphia www.myrepublicbank.com
25 East River Bank Philadelphia www.eastriverbank.com
26 The Bryn Mawr Trust Company Bryn Mawr www.bmtc.com
27 First Savings Bank of Perkasie Perkasie www.firstsavingsonline.com
28 First National Bank and Trust Company of Newtown Newtown www.fnbn.com
29 Royal Bank America Narberth www.royalbankamerica.com
30 Huntingdon Valley Bank Warminster www.huntingdonvalleybank.com
31 Customers Bank Phoenixville www.customersbank.com
32 Ambler Savings Bank Ambler www.amblersav.com
33 Sharon Savings Bank Darby www.sharonbank.com
34 Harleysville Savings Bank Harleysville www.harleysvillesavings.com
35 Beneficial Mutual Savings Bank Philadelphia www.thebeneficial.com
36 Abington Savings Bank Jenkintown www.abingtonbank.com
37 Prudential Savings Bank Philadelphia www.prudentialsavingsbank.com
38 Citizens Bank of Pennsylvania Philadelphia www.citizensbank.com

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About MultiFunding

Based in the greater Philadelphia area, MultiFunding works with small business owners in more than 27 states to understand small business lending options, and to ultimately evaluate and secure the best loan alternatives for their businesses.  For further information, please visit www.multifunding.com or view the small business blog at sligshotcafe.net.

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