Cogent Bank is proud to announce its accomplishment as the number one lender in Florida for business loans guaranteed by the U.S. Department of Agriculture (USDA). During its fiscal year in 2022, Cogent obligated more loans by dollar volume and quantity than any other lender in the state. In dollar volume, Cogent accounted for 59% of all Florida approved loans, and in quantity, its approvals were 64% of all Florida fiscal year 2022 approved loans.
“Being responsible for over half of USDA’s Business and Industry Program in Florida speaks to Cogent’s mission of moving businesses forward,” says President Chirag Bhavsar. “As a future-forward institution, Cogent Bank is focused on growing Florida businesses by providing access to the proper resources they need to thrive.”
USDA business loans focus on elevating small businesses and job formation and can be used for business modernization; development or repair; commercial real estate purchases; machinery, equipment, and supplies; debt refinancing; and business acquisition, creating or saving jobs.
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This post was written by Elevate, Inc.