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Fulton Bank. PHOTO/FULTON BANK
Fulton Bank named 2024 Export Lender of the Year
Listen to this articleFulton Bank, N.A. was named one of two U.S. Small Business Administration’s 2024 Export Lender of the Year Award winners.
Administrator Isabel Casillas Guzman said the SBA’s Office of International Trade selected Fulton Bank and First American Bank as the 2024 Export Lenders of the Year, and Lake Michigan Credit Union as the 2024 International Trade Lender of the Year.
“We are proud to be named as an Export Lender of the Year for our ongoing commitment to supporting small and internationally focused businesses across the mid-Atlantic,” said Chris Brown, director of SBA Lending at Fulton Bank. “As trusted advisors to our clients, we work with the SBA to provide unique offerings, like the Export Working Capital Program (EWCP), to ensure small and internationally focused businesses have the funds needed to grow and thrive.”
Guzman said the SBA has long worked to create pathways for small businesses to grow and diversify their revenues and create good-paying jobs through international trade, and the SBA’s network of export lenders provide those opportunities through SBA trade financing.
“Our 2024 Export Lender Award winners set the standard for powering America’s entrepreneurs to successfully compete in the global marketplace and continue our historic economic recovery under President Biden’s leadership,” she said.
Fulton’s SBA department is a central component of the Bank’s Commercial Lending line of business, with EWCP solutions delivered to small business exporters in collaboration with the bank’s International Group which provides an array of financing and payment services to their internationally focused clients, SBA said.
EWCP is an integral component of Fulton Bank’s comprehensive line-up of SBA offerings and typically accounts for 10% to 15% of Fulton’s annual SBA loan volume, SBA said.
U.S. exports are critical to the nation’s economy, with over 97% of all exporters being small businesses, SBA said. During fiscal year 2023, the SBA guaranteed $495 million in financing to small business exporters, which supported over $1.3 billion in export sales.
