NBSB Named a Preferred Lender by Small Business Administration
Business owners in Central and Western Massachusetts have been counting on North Brookfield Savings Bank (NBSB) and its team of experienced commercial lenders for a wealth of loan opportunities and support services for years. Now they can take advantage of NBSB’s status as a Preferred Lender for the Small Business Administration (SBA), which can mean faster loan approval.
“To be awarded the SBA’s Preferred Lender status is a privilege and we are proud to recognize North Brookfield Savings Bank for their lending performance and reputation,” said Massachusetts SBA Director Robert Nelson. “We look forward to working more closely with them and their customers now and in the years ahead.”
As a member of the SBA’s Preferred Lender Program, NBSB has the authority to issue an SBA guaranteed loan without prior SBA review and approval. Membership in the program is only given to financial institutions that have a proven capability and commitment to small business lending, and strict adherence to SBA guidelines.
“The SBA Preferred Lending designation gives us the ability to streamline our commercial loan process which in turn will allow us to approve and close SBA loans more efficiently,” said Rick Egan, Vice President and Commercial Loan Officer. “We are proud of our membership in the Preferred Lender Program. The NBSB Commercial Lending team has worked diligently to provide loans to businesses in our community and achieving this status demonstrates our commitment to small business lending and our business community.”
Rick Egan, NBSB Vice President and Commercial Loan Officer, will serve as the bank’s SBA loan specialist and he looks forward to assisting small business owners with expedited loans.
“Preferred Lender status is another way we can support small business owners in our service areas, and that’s the commercial lending team’s goal every day we come to work,”Egan explained.