Edit ModuleShow Tags
Edit ModuleShow Tags

Caruso Joins WSFS to Lead SBA Efforts


Published:

Longtime franchise finance executive Candice Caruso recently joined WSFS Bank to head up its SBA lending to small businesses, including the franchise sector. WSFS Bank, headquartered in Delaware, recently announced its intention to acquire Philadelphia-based Beneficial Bank, which will make it a $13 billion entity with offices in Delaware, New Jersey, Pennsylvania, Nevada and Virginia.  

While it is a regional bank, the franchise group will be funding franchisees on a national basis. “Our initial goal is to have 20 approved brands we can service throughout the country,” said Caruso.

Caruso’s experience within franchise financing includes launching Pango Financial years ago. At Pango, she matched franchise borrowers with the right funding solution, and it was there she honed her knowledge of financial technology.

“I am always one who focuses on staying ahead of the curve,” Caruso said. “And that’s what made me so excited about coming to WSFS. They are looking for ways to innovate and to serve a larger audience.”

It’s her goal at WSFS to fine tune the process “to be the most efficient and quickest. I will spend a lot of time on how to make this process better.” The client experience will differentiate WSFS from other SBA lenders, she added.

And while Caruso is heading up SBA lending for the bank, which includes all types of small business borrowers, her franchise lending experience is an indication where the bank would like to go with its franchise portfolio. 

“We are making an investment in the franchise sector, and we understand the needs of the franchisor and franchisee,” she said. “For the franchisor, it is getting those units open. We feel confident the timelines will be met on our end. Efficiency and speed is so critical for franchisees, too. A lot of people have apprehension when they hear ‘SBA.’ We want to make it something that they don’t have a concern about, and make the experience positive for them.”

Edit Module
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags


Covers everything from good news to bad judgment

About This Blog

The latest news, opinions and commentary on what's happening in the franchise arena that could affect your business.

Tom KaiserTom Kaiser is senior editor of Franchise Times. He can be reached at 612.767.3209, or send story ideas to tkaiser@franchisetimes.com.
 
Beth EwenBeth Ewen is editor-in-chief of Franchise Times. She can be reached at 612.767.3212, or send story ideas to bewen@franchisetimes.com.
 
Nicholas UptonNicholas Upton is restaurants editor at Franchise Times. He can be reached at 612.767.3226, or send story ideas to nupton@franchisetimes.com.
 
Laura MichaelsLaura Michaels is managing editor of Franchise Times. She can be reached at 612.767.3210, or send story ideas to lmichaels@franchisetimes.com.
 
Mary Jo LarsonMary Jo Larson is the publisher of Franchise Times Magazine and the Restaurant Finance Monitor.  You can find her on Twitter at
 twitter.com/mlarson1011.
 

Archives

Categories

Feed

Atom Feed Subscribe to the Franchise Times News Feed »

Recent Posts