Business
Fulton Bank Invests $1 Million in Innovate Capital Growth Fund
Investment Will Fund Growth for Minority- and Women-Owned Businesses in the Mid-Atlantic Region PHILADELPHIA & LANCASTER, Pa.--(BUSINESS WIRE)-- Fulton Bank,
About this update from Fulton Financial Corporation
[{"type":"text","content":"\nInvestment Will Fund Growth for Minority- and Women-Owned Businesses\nin the Mid-Atlantic Region\n\n PHILADELPHIA & LANCASTER, Pa.--(BUSINESS WIRE)--\nFulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), has invested $1 million in Innovate Capital Growth Fund, L.P., which provides capital and operational expertise to enable minority- and women-owned businesses to grow.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230131005975/en/Innovate Capital Growth Fund Partner Della Clark and Fulton Financial Corporation Chairman and CEO Curtis J. Myers celebrate the bank’s investment to help fund growth for minority- and women-owned businesses. (Photo: Business Wire)\nThe investment is part of Fulton Bank’s Commercial Affinity Banking initiative, which is designed to increase access to financial services for diverse businesses.\n\n“Fulton Bank’s investment will advance our mission of connecting institutions with minority businesses, unlocking the potential for future growth,” said Innovate Capital Growth Fund Partner Della Clark. “There are more than 3,200 minority-owned and 8,800 women-owned businesses in our target market in the Mid-Atlantic region, and providing them with equity capital represents a significant opportunity to contribute to overall economic growth.”\n\nBased in Philadelphia, Innovate Capital Growth Fund is a Small Business Investment Company (SBIC) focused on providing equity investments in women- and minority-owned lower middle market firms in the Mid-Atlantic region. Innovate Capital Growth Fund typically works with businesses with annual revenues of approximately $2 million to $10 million from a range of industries, including manufacturing, consumer products, technology, and healthcare services.\n\n“Fulton Bank is committed to ensuring that businesses in the communities we serve have access to the capital and banking services that will empower them to grow and thrive,” said Curtis J. Myers, Chairman and Chief Executive Officer of Fulton Financial Corporation. “We are excited about the opportunity to invest in Innovate Capital Growth Fund, which is focused on supporting diverse businesses.”\n\n“This investment in Innovate Capital Growth Fund is part of Fulton Bank’s Commercial Affinity Banking Program,” said Joel Barnett, Senior Vic...