Richard Snow Helps Thousands of Small Businesses Only Weeks into New Job

By WSFS Contributor | Published: May 2020

Photo by Alexis Cannard. “You get to know your fellow Associates and build relationships quickly when you join an organization during a time like this,” said Richard Snow, Vice President, SBA National Franchise Relationship Manager at WSFS Bank – a preferred SBA lender.

With his scheduled start date coinciding with the launch of the CARES Act’s Paycheck Protection Program (PPP), Snow knew coming in he would need to hit the ground running to assist Customers during a difficult time.

“I knew coming in that it was going to be an all-hands-on-deck approach,” Snow, based in the Bank’s Burlington, NJ branch, said. “I received my computer the Friday before I started and was on the phone that same day with the IT Team to ensure all of my systems were up and running to get to work right away. I had virtual orientation the following Monday and the next day I was already hard at work to help Customers obtain needed funding.”

With billions of dollars and the livelihood of many small businesses at stake, Snow knew there was no time to waste in getting Customers’ applications processed. He also recognized right away that he would be wearing many hats.

Snow has been working tirelessly since joining WSFS, using his extensive knowledge of SBA lending to create templates and internal processes to help fellow Associates communicate key information to small business Customers during these unprecedented times. In anticipation of the huge demand the PPP program would likely create, Snow and the WSFS leadership team rapidly diverted resources to develop processes and procedures to best serve business Customers. When WSFS began accepting applications on April 6, it received a flood of submissions.

As applications came into the system, each one had to be reviewed carefully to ensure that they were complete. Nearly 200 WSFS Associates rallied and turned their focus to PPP applications, working seven days a week to get 2,500 applications approved for Customers during round one of PPP. They continue to work diligently during round two of the funding to assist small businesses and have received approvals for about 4,500 loans worth nearly $1 billion as of May 5, 2020.

Snow took his all-hands-on-deck approach to another level, personally working with Customers directly to help them through the PPP application process. “The feedback I’ve received from WSFS Associates and our Customers has been amazing,” said Candice Caruso, SVP and Director of Government Guaranteed Lending for WSFS Bank. “One Customer thanked Richard profusely for helping them through the process, answering multiple questions and being there as a guiding presence for them during a stressful time. The entire team at WSFS is so proud of Richard.”

“Everyone has been amazing, helping each other wherever they can,” Snow said. “It shows our flexibility as an organization as we do whatever we can to help small businesses cross the finish line to obtain needed funding.”

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