Florida Banking September 2022


Capital City Bank Among ‘Best Companies to Work For in Florida’ 11 Years Back-to-Back

F lorida Trend has named Capital City Bank one of its 2022 “Best Companies to Work For in Florida.” Out of the 100 small, medium and large companies recognized, Capital City ranked No. 21 in the “Large Companies” category. The 2022 issue is the fourteenth annual “Best Companies” edition and marks the 11th year Capital City Bank has been selected. “Capital City Bank remains steadfast in our dedication to investing in our people,” said Bill Smith, Capital City Bank Group chairman, president and CEO. “This distinction is a testament to the camaraderie and culture embraced by our associates for the past 127 years, and it’s an honor to once again be named a top employer in the state where we’re headquartered.”

This recognition by Florida Trend magazine accompanies the bank’s most recent honor received as a top workplace, having been ranked among the top employers in the financial industry by American Banker’s “Best Banks to Work For” in 2021 for the ninth consecutive year. To participate, companies or government entities were required to have at least 15 workers in Florida and to be in operation at least one year. Companies that chose to participate underwent an evaluation of their workplace policies, practices, philosophy, systems and demographics. The process also included a survey to measure employee satisfaction. The combined scores determined the top companies and the final ranking.

BayFirst Launches SBA-Backed Loan Program Drastically Expediting Small Business Loans Up to $150,000

S t. Petersburg-based BayFirst National Bank, a nationwide leader in Small Business Administration (SBA) lending, announced the launch of a new SBA-backed loan program that expedites loan approvals for small businesses across the country, delivering funding in days not weeks, which is the current nationwide average. With lower interest rates and longer repayment terms than alternative online lending products, BOLT loans are ideal for established business owners who have been in operation for at least two years, require an SBA 7(a) loan up to $150,000, and have good personal and business credit scores. Loans can be prequalified in hours, with the goal of providing funding within seven to 10 days. Rates for most

borrowers are currently 7.5 percent (Prime + 2.75 percent, adjusting quarterly), with a 10-year term. The loans may be paid off early with no pre-payment penalty. “The launch of BOLT comes at a critical time for small businesses as more and more owners are relying on loans to help manage the higher costs associated with inflation and increase their capital,” said BayFirst Chief Production Officer Brandi Jaber. “We know speed is everything in business, and with BOLT we are able to provide lightning-fast funding within days and without all the paperwork, ensuring our small business customers get the money they need as quickly as possible, plus the personalized service they expect from our team.”

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