Community First Bank Receives Prestigious "Preferred Lender" Status from U.S. Small Business Administration.
SOMERSET, N.J. -- Peter G. Schoberl, Chairman of the Board, President and Chief Executive Officer announced today that Community First Bank was recognized as a "Preferred Lender" by the U.S. Small Business Administration. This recognition as a preferred lender of the SBA allows Community First Bank to document and process an SBA loan request on behalf of the SBA, streamlining the time when a business receives funding.
"This is a result of hard work and the Bank's commitment to provide local businesses with the funding needed to grow their business," commented Mr. Schoberl. "We consider SBA lending as core business for Community First. The SBA application process is streamlined which allows us to quantify a potential borrower, complete the documentation and fund the loan within a relatively short time period," concluded Schoberl.
As a preferred lender, the SBA delegates the final credit decision and servicing to a carefully selected group of lenders.
For additional information regarding the Small Business Administration loan program please contact Paula Gambino-Sierp, director of Community First Bank's SBA program at 908-566-6226 or at 732-560-0004.
Community First Bank's main office is located at 408 Elizabeth Avenue in Somerset, NJ.