The Delaware County Bank and Trust Co. announced that the U.S. Small Business Administration has granted the bank “preferred lender” status under the SBA’s Preferred Lender Program.
Under this program, the SBA delegates the final credit decision to selected lenders, thereby streamlining procedures necessary to provide financing to the small business community. Lenders are considered for preferred-lender status based on their record with the SBA, and must have demonstrated a proficiency in processing and servicing SBA-guaranteed loans.
The bank also announced that it has expanded its small business lending capabilities with the addition of a team specializing in SBA lending. Based in the bank’s Lewis Center headquarters, the SBA team will underwrite and originate loans under the SBA’s 7(a) and 504 loan programs to small businesses in central Ohio and throughout the nation.
About The Delaware County Bank and Trust Company
The Delaware County Bank and Trust Company is a state-chartered commercial bank that conducts business from its main offices at 110 Riverbend Avenue in Lewis Center, Ohio, and through its eight full-service and six limited-service branch offices located in Central Ohio. The Bank provides customary retail and commercial banking, small business lending and cash management services to its customers, including checking and savings accounts, time deposits, IRAs, safe deposit facilities, personal loans, commercial loans, commercial leases, real estate mortgage loans, night depository facilities and trust and personalized wealth management services.
Information for this story was provided by the Delaware County Bank and Trust Co.