The SBA designates certain lenders as SBA Preferred. These lenders have a faster, streamlined process that gives them the authority to make the final credit decision.
Fortunately, Tulsa FCU is an SBA Preferred lender and that means several benefits that non-preferred lenders do not offer.
- SBA Express loan requests are approved in-house, reducing turnaround time, possibly by weeks
- An ongoing, proven relationship with the SBA and historical knowledge of how to work efficiently with the organization
- Loans from SBA lenders may offer longer repayment terms and lower payments.
Preferred lender designation at the SBA is limited to lenders who have a record of processing and servicing loans successfully with the SBA. The organization also takes into account each financial institution’s overall performance, loan volume, and knowledge of SBA policies and procedures.
This article is for educational purposes only. Tulsa FCU makes no representations as to the accuracy, completeness, or specific suitability of any information presented. Information provided should not be relied on or interpreted as legal, tax or financial advice. Nor does the information directly relate to our products and/or services terms and conditions.