SBA Banks
Did you know the SBA has a Preferred Lenders Program (PLP) that was created to make the entire loan approval process much faster for small businesses? 
Under this program, the SBA streamlines the procedures for SBA banks by giving them the authority to make the final credit decision. While the Small Business Administration does not loan money directly, when you apply for an SBA-backed loan, you are basically asking the SBA to provide a guarantee that you will repay.
Unfortunately, with non preferred SBA approved banks the loan process can take up to four weeks because they have to send their loans directly to the SBA for approval.
It’s important to realize not all lenders are nominated to receive this lending designation. It is only open to lenders based on a proven track record of successfully processing and servicing SBA-guaranteed loans.
Here is the most recent list of SBA Banks with Preferred Lender status:
| Bank of America Contact: Small Business Financial Solutions
Voice # 1-888/931-5626 |
BBVA Compass 17218 Preston Rd, Ste 3000
Dallas, TX 75252 Contact: Helma Gentry Voice #: 972/735-3540 Fax #: 972/735-3598 |
Borrego Springs Bank 14101 Panama City Beach Pkwy
Suite 300 Panama City Beach, FL 32413 Contact: Fred Crispen Voice#: 866/644-0042 Fax#: 866/717-7718 |
Branch Banking & Trust Company 5901-C Peachtree Dunwoody Road
Suite 420 Atlanta, GA 30328 Contact: Mr. Ankur Patel Voice #: 770-551-8822 |
| Business Lenders, LLC 50 State House Square
Hartford, CT 06103 Contact: Judy Hart Voice #: 860/244-9202 x117 Fax #: 860/895-6051 |
CBC National Bank 3010 Royal Blvd South Suite 230
Alpharetta, GA 30022 Contact: Susan F. Battle Voice #: 404/455-8595 Fax#: 404/795-9051 |
Century Bank of Georgia 215 East Main Street
Cartersville, GA 30120 Contact: Saunders Jones, III Voice #: 678/721-2036 Fax #: 770/387-9161 |
CIT Small Business Lending 900 Ashwood Pkwy, 6th Floor Atlanta, Georgia 30338
Contact: Rosemarie Drake Voice #: 404/244-4592 Fax #: 404/244-4593 |
| Colony Bank 115 S. Grant Street
Fitzgerald, GA 31750 Contact: Rob Hughes Voice #: 229/426-6200 Fax #: 229/426-6074 |
Community South Bank 625 S. Gay St 450
Knoxville, TN 37902 Contact: Mr. Larry Moran Voice #: 865-329-8260 Fax #: 865-381-1539 |
Cornerstone Bank 2060 Mt. Paran Road
Atlanta, GA 30327 Contact: John Dutko Voice #: 404/591-4294 Fax #: 404/601-1251 |
East West Bank 3490 Shallowford Road Atlanta, GA 30341 Contact: David Bryan
Voice #: 770-454-0428 Fax #: 770-986-0054 |
| Embassy National Bank 1817 North Brown Road
Lawrenceville, GA 30041 Contact: Robert Goff Voice #: 770-500-1255 Fax #: 770-995-9111 |
Fidelity Bank 1122 Pace Street, 1st Floor
Covington, GA 30014 Contact: Danny Preston Voice #: 404/553-2350 Fax #: 770/784-2784 |
Fifth Third Bank 3344 Peachtree Rd, Ste 800
Atlanta, GA 30326 Contact: Derek Grayson, II Voice #: 404/279-4532 Fax #: 404/816-7350 |
First Intercontinental Bank 5593 Buford Hwy
Doraville, GA 30340 Contact: Jack Byun Voice #: 770/407-1453 Fax #: 770/451-2053 |
| First National Bank of Coffee County 420 S. Madison Avenue
Douglas, GA 31533 Contact: Lee McLean Voice #: 912/384-1100 Fax #: 912/384-2666 |
The Foster Bank 5715 Buford Highway,
Suite 205 Doraville, GA 30340 Contact: Steve Han Voice #: 770/451-1220 Fax #: 770/451-7725 |
Georgia Primary Bank 3880 Roswell Road
Atlanta, GA 30342 Contact: Cheryl Beer Voice #: 404/504-8316 Fax #: 404/231-4200 |
Gulf Coast Bank & Trust 4 Sanctuary Blvd, Ste 201
Mandeville, LA 70471 Contact: Ron Coulonge Voice #: 985/898-3882 Fax #: 985/898-3914 |
When you choose an SBA Bank that is a preferred lender you should aim to find one that caters to your type of business. By choosing SBA Preferred lenders that specializes in making loans to businesses like yours you can greatly improve your chances of getting an approval.
Stay tuned for the remaining list of SBA Preferred Banks in Part 2 of our SBA Bank Listing Series.
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About the author
Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for AllBusiness, a subsidiary of Dun and Bradstreet and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in the SBA Community, American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.