SHREWSBURY – Colonial American Bank has announced that the U.S. Small Business Administration (SBA) has designated the bank as a participant in its Preferred Lender Program.
The distinction is held by only certain qualified and experienced lenders who possess a successful track record and demonstrate a thorough understanding of the SBA loan process.
As a Preferred Lender Program designee, Colonial American Bank can qualify small businesses quicker by streamlining the underwriting process and making SBA loan credit decisions in-house, both of which enables the bank to expedite loan approvals in a timely manner.
“SBA Preferred Lender status is just another reason small businesses benefit greatly by working with a community bank. Local decision-making, access to senior management and an experienced SBA lending team all help accelerate the process to provide financing for businesses to grow and expand,” said Anthony Giordano, III, president and CEO.
Additional information about the SBA Preferred Lender Program is available by contacting Andrew Glatz, senior vice president, SBA department manager, at 732-945-4230, aglatz@colonialamericanbank.com or by visiting the bank’s website at www.colonialamericanbank.com.
