The benefits of working with an SBA Preferred Lender - First Utah Bank | Personal Banking | Business Banking | Treasury Management | Loans

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The benefits of working with an SBA Preferred Lender

54521638_SDid you know that our bank is a U.S. Small Business Administration Preferred Lender? Here’s what that designation means and how we can help your small business grow and succeed:

For starters, it means that we are dedicated to serving small businesses and are specialists in small business lending and specifically, SBA loan programs. Under the Preferred Lenders Program, high-volume SBA lenders also have loan approval and closing authority, which enables our commercial lending team to make loan decisions more rapidly.

To earn the PLP designation, lenders must establish a successful track record and display a thorough understanding of SBA lending policies and procedures. We work with the SBA’s 7(a) and 504 loan programs as well as SBA Express, SBA Export Express and the Working Capital CAPLine Program. Whether you are starting a business, purchasing a franchise, buying equipment, expanding your company, exporting, purchasing or leasing a building or would like to refinance or consolidate debt, our SBA loan specialists are here to help you understand all of your lending options and serve you quickly and efficiently.