SBA Preferred Lenders

Some of the most active lenders who have displayed particular knowledge on processing the Small Business Administration loans are designated by the SBA as preferred lenders. Preferred lenders are delegated authority to approve loans, resulting in faster service to the applicant.

The administration defines membership of nearly six hundred lenders this way:

"Small Business Administration delegates the final credit decision and most servicing and liquidation authority and responsibility to these carefully selected lenders.

SBA will continue to check loan eligibility criteria under this program. PLP lenders are nominated based on their historical record with the Agency. They must have demonstrated a proficiency in processing and servicing SBA-guaranteed loans. In the event of payment default by the borrower and the need for enforced collections, the PLP lender agrees to liquidate all business assets before asking SBA to honor its guaranty."

SBA's website: A description of its Preferred Lender Program

Here is a list of SBA Preferred Lenders (M.S. Word document format) throughout the country. The list is frequently updated.