Business Bank of California Awarded Preferred Lender Status from SBA.SAN BERNARDINO, Calif.--(BUSINESS WIRE)--Aug. 14, 1998--Alan J. Lane, president and chief executive officer, announced today that the Bank has received the prestigious Preferred Lender Status from the Santa Ana Office of the Small Business Administration. "Obtaining this certification has been a part of the Bank's Strategic Plan since 1996," states Lane. "The Bank's SBA division, headed by Eugene Gonzalez, vice president and SBA manager, has worked very closely with the Agency to comply with all requirements. We are very pleased to be one of the only two Inland Empire headquartered banks who are approved PLP PLP - Packet Layer Protocol PLP - Packet Level Protocol PLP - Packet Loss Probability PLP - Pamantasan Ng Lungsod Ng Pasay (Philippines) PLP - Parliamentary Labor Party (Australia) PLP - Parliamentary Labour Party (UK) PLP - Party Line Protocol PLP - Pattern Learning Parser PLP - Peace and Liberation Party (Sierra Leone) PLP - Peer Lending Program PLP - People's Labor Party (Papua New Guinea) PLP - People's Liberation Party (gaming) lenders." Obtaining approved status to operate under the SBA's PLP (Preferred Lender Program) dramatically increases the efficiency and expediency of the SBA lending process. The provisions of the Preferred Lender Status permit a lending institution to independently approve SBA loan applications without sending them to the agency for review. States Lane, "The enhanced turnaround time inherent within this process is a critical component in plans to expand the bank's SBA loan portfolio. Borrowers are more sophisticated than ever. They understand the competitive advantages of working with an institution who has been approved as a PLP lender and actively seek them out when financing needs arise. Status as an approved PLP lender places Business Bank of California in a different competitive arena than we previously had access to." Obtaining Preferred Lender status is a complex process. Approval involves establishing a track record of exemplary performance in all areas of the SBA lending function. The designation PLP reflects the Agency's confidence that a bank has shown exceptional ability to process, close, service and liquidate SBA loans in accordance with SBA policies and guidelines. It also requires that the institution have an excellent rapport with the SBA office who issues the PLP status and that they demonstrate a strong commitment to SBA lending in their particular market area. Only lending institutions who have met these stringent criteria are considered for the PLP rating. BUSINESS BANK of California has served the Inland Empire since 1984 and operates branches in the cities of San Bernardino, Corona, Hesperia, Phelan and Redlands. The Bank's primary focus is on meeting the financial needs of small to mid-size clients in the professional and business communities it serves. In addition, the Bank is firmly committed to providing a wide range of services designed to meet the personal banking requirements of individuals in the communities it serves. Visit Business Bank of California on the Internet at www.businessbank.com.
CONTACT: Business Bank of California, San Bernardino
Alan J. Lane or Cynthia Schneider
909/888-2265
|
|
||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion