Cardinal Bank (NASDAQ:CFNL), in partnership with the U.S. Small Business Administration’s Richmond District Office, is pleased to announce it has provided financing under the Patriot Express Loan Initiative to business customers, Richard and Linda Cozier, to open a Little Caesars Pizza Restaurant franchise in Stafford, Virginia. Cardinal Bank Vice President, Joe DiStefano, made the check presentation to the retired Air Force veteran at a Funding Ceremony on July 24, 2008.
The SBA loan was made by Cardinal Bank using the Patriot Express Loan Initiative and provides funding for leasehold improvements, inventory, start-up costs and working capital. "Small businesses are one of the strongest forces driving our economy today, and Cardinal Bank has made a concerted effort to focus on the business needs of small companies," said Cardinal Bank President Christopher W. Bergstrom. "Our long-standing partnership with the SBA reflects Cardinal’s commitment to fostering entrepreneurship and helping businesses grow and prosper.
” Other distinguished guests attending the Little Caesars Funding Ceremony were Ronald E. Bew, SBA Richmond District Director; Rob Burke, Tidewater Business Financing Corp.; Robert Woodson, Supervisor Griffis-Widewater District and Stafford County Board of Supervisors; Scott Dailey, SBA Richmond Assistant District Director; Peggy FaJohn, SBA Lender Relations Specialist, Todd Hewitt, Cardinal Bank Executive Vice President, Commercial Lending; and John Gusciora, Cardinal Bank Senior Vice President, Small Business Lending. Cardinal Bank is designated as a preferred lender in Virginia, Maryland and the District of Columbia to offer the Patriot Express Loan Initiative as well as other SBA loan guarantee programs.
The Patriot Express program is targeted to benefit members of the military community wanting to establish or expand small businesses. Patriot Express is an expedited and streamlined loan product based on the agency’s highly successful SBA Express Program, but with enhanced guaranty and interest rate characteristics. The Richmond SBA District is one of the most active districts in the U.S. for the Patriot Express loans, and currently leads the nation in dollars approved under the Initiative.
About Cardinal Financial Corporation: Cardinal Financial Corporation, a financial holding company headquartered in Tysons Corner, Virginia with assets of $1.73 billion at June 30, 2008, serves the Washington Metropolitan region through its wholly-owned subsidiary, Cardinal Bank, with 25 conveniently located banking offices. Cardinal also operates George Mason Mortgage, LLC; Cardinal Trust and Investment Services; and Wilson/Bennett Capital Management, Inc.