Republic First Bancorp, the parent company of Republic First Bank, is dedicating additional resources to grow its Small Business Administration (SBA) team under the direction of Arnie Horvath, executive vice president and SBA director for the bank.
“We are continuing to take decisive actions to further align the structure of Republic Bank with our overall strategy of focusing on our core businesses in our core markets,” Thomas X. Geisel, president and CEO of Republic First Bancorp, said. “Today’s announcement is yet another step in this direction and underscores our commitment to supporting small businesses and providing them with the financial assistance they need to thrive.”
Republic Bank will be adding staff to the SBA team and transitioning it under the commercial lending business to increase deal flow and leverage synergies. The SBA team has experience in the bank’s core markets extending into New Jersey and eastern Pennsylvania. The additional resources being allocated to this group will allow for further expansion into these markets.
“We recognize that small businesses are the backbone of our economy, and we are committed to helping them succeed,” Horvath said. “Supporting entrepreneurs and business owners in the communities we serve is an incredibly important part of our overall business. We are proud to announce during Small Business Month that we will be devoting even more resources to our SBA team’s loan programs, providing access to capital that can help fuel business growth and support job creation across industries.”
