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You are here: Home / Business Credit / SBA Banks with Preferred Lender Status Part 1

SBA Banks with Preferred Lender Status Part 1

February 1, 2012 By Marco Carbajo

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? SBA Banks

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.

Looking to qualify for an SBA Loan and obtain business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive our Business Credit Without a PG audio seminar FREE ($597 value) =>

About the author

Marco CarbajoMarco 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.

Related Posts

  • SBA Banks with Preferred Lender Status Part 2  SBA Banks with Preferred Lender Status Part 2
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  • Business Credit Builder: Dun & Bradstreet Product Review Part 1Business Credit Builder: Dun & Bradstreet Product Review Part 1
  • Instant Business Credit: Is it a Risk you’re willing to take?Instant Business Credit: Is it a Risk you’re willing to take?

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Filed Under: Business Credit Tagged With: sba bank, sba banks, sba preferred lenders

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