Diverse businesses may be among the fastest-growing segments of the U.S. economy today; however, they’re also more likely to struggle accessing the funding needed to grow and expand.
Fulton Bank, a premier community bank in the mid-Atlantic region, is leveraging its insight into local economic conditions and business opportunities to meet the challenges of lending to small and diverse businesses. Fulton Bank recognizes the needs of this growing, yet underserved, segment of entrepreneurs, and launched its Diverse Business Banking program to better meet the specific needs of minority, women, veteran and LGBTQ business owners.
Through the program, Fulton enables access to business loans, lines of credit, credit cards and business banking services that help pave the way for success. The bank’s Certified Diverse Business Advocates are specially trained to provide advice, education, mentorship and networking opportunities for business owners.
In 2023, Fulton Bank client Darryl Wiggins, founder and CEO of Public Sector Solutions Group of Washington, D.C., hosted a Diverse Business Banking program for more than 50 diverse small business owners, community partners and government officials at his company headquarters, which was financed in partnership with Fulton. Public Sector Solutions Group (PS2G) is a technology-driven company that provides IT consulting services and innovative solutions to state and local government partners. PS2G leverages deep knowledge of government programs, IT management systems, application development and specialized technical expertise to help clients achieve their performance goals while ensuring audit compliance and reporting for federally funded agencies.
Like Fulton, Wiggins recognizes the impact that diverse-owned businesses have in building wealth for local communities. Impressed by the bank’s commitment to turn profit into purpose, Wiggins introduced entrepreneurs to his trusted team at Fulton to learn more about product and service packages designed for diverse businesses, from alternative credit programs to outreach and collaboration with other community organizations to flexible approval criteria for loans and lines of credit.
Cultivating sustainable businesses in sustainable communities is a shared goal between Fulton Bank and PS2G. Whether it’s connecting a small diverse business with the financing to expand or securing a more affordable lending rate for a growing business that was denied access to credit, Fulton is committed to serving low- and moderate-income individuals, minorities and small businesses operating in underbanked and underserved areas. These efforts go beyond responsible banking to encompass a holistic social capital strategy centered on strengthening our communities — one business at a time. Because when everyone is valued, we all succeed.
To learn more about diverse business banking educational resources and networking opportunities, visit Fulton Bank’s Diverse Business Banking.
Fulton Bank is a premier community bank in the Mid-Atlantic region based in Lancaster, Pa. As a subsidiary of Fulton Financial Corporation, a more than $30 billion financial services holding company, Fulton Bank offers a broad array of products and services at more than 200 financial centers across Pennsylvania, New York, New Jersey, Maryland, Delaware, and Virginia. At Fulton Bank, we seek to change lives for the better by building strong customer relationships, providing significant community support and empowering more than 3,500 employees to do the same. Through the Fulton Forward® initiative, we’re helping build vibrant communities. Learn more at www.FultonBank.com. Fulton Bank, N.A. Member FDIC. Equal Housing Lender. Loans are subject to credit approval. Fulton Bank is not affiliated with Public Sector Solutions Group.