The biggest Based in Orlando SBA lender keep on going to help small businesses through innovative loan programs
ORLANDO, Florida, November 23, 2020 (GLOBE NEWSWIRE) – Source, a nationwide non-bank lender for small and medium-sized businesses, today announces a major milestone: to rank among the top 100 most active lenders in the Small Business Administration (SBA) nationwide.
The Orlando-based lender helps businesses grow through conventional SBA 7 (a), SBA 504, and low LTV loan programs, as well as loans through the Paycheck Protection Program (PPP). Fountainhead’s work on the PPP loan program, launched by the SBA in March 2020, has funded more than $ 767 million on 8,237 loans and saved an estimated 120,000 American jobs.
Most recently, Fountainhead was approved to be one of the SBA’s Preferred Lenders. This coveted spot in the senior loan program, given to a small percentage of lenders, grants a designated underwriting for 7 (a) loans, reducing several business days after the approval and close process. Fountainhead has also been approved to participate in the SBA Express Loan Program. The two milestones – placing in the top 100 and achieving PLP status – were achieved in the Fountainhead government’s first full fiscal year by making 7 (a) loans.
“Since our inception in 2015, the team has worked incredibly hard to help deliver the smartest, fastest possible financing to small business owners,” said CEO and Founder Chris Hurn. “We have grown the company to become the largest non-bank SBA lender in the Southeast and the third largest SBA lender based in Florida through several initiatives of the company, PPP being the most recent. Our growth is exciting, but we will not stray from our mission to help small businesses weather the pandemic. “
In addition to her recent government accolades, Fountainhead was also named to the Inc. 5000 list of America’s fastest growing companies for the second year in a row, and one of the Orlando Business Journal’s 2020 Best Places to Work for its exceptional culture and leadership in the financial sector.
Fountainhead is a national non-bank direct commercial lending company specializing in financing commercial real estate projects and financing the growth of business owners using conventional loans SBA 7 (a), SBA 504 and, more recently, Paycheck Protection Program (PPP) loans. The company is one of 14 non-bank lenders approved by the US Small Business Administration and the team has been involved in funding over $ 24 billion in total projects during their careers, making them the ‘one of the most experienced teams in commercial loans to small business owners. to medium-sized businesses. For more information, please visit their website at FountainheadCC.com.
Uproar PR for Fountainhead