Borrowers Get Faster Service With New Authority
MILWAUKEE–River Cities Bank, Nicolet National Bank, and Coulee Bank have been designated as U.S. Small Business Administration Preferred Lenders. They now have the authority to process, close, service and liquidate most SBA-guaranteed loans without prior review. For borrowers, this means faster service with local, community-focused banks.
“The Preferred Lender Program recognizes these financial institutions’ proficiency with SBA lending and makes SBA loans more accessible for small businesses,” says Eric Ness, SBA’s Wisconsin district director. The PLP designation is held by only 49 of Wisconsin’s 350 SBA-affiliated lenders.” For a full list of PLP and other specialty Wisconsin lenders<https://www.sba.gov/
* River Cities Bank is based in Wisconsin Rapids with locations in Stevens Point and Baraboo. The bank has originated 27 SBA loans totaling $5.4 million. Vice President/Credit Officer Nick Inman handles SBA lending at 715-422-1126/ nicki@rivercitiesbank.com<
* Nicolet National Bank is based in Green Bay with locations throughout Wisconsin. Nicolet has originated 145 SBA loans totaling $45.9 million. SBA Specialist Shelly Henry can be reached at 920-617-8218/ shenry@nicoletbank.com<mailto:
* Coulee Bank is based in La Crosse with another Wisconsin location in Onalaska and Minnesota locations in St. Paul and Rochester. Coulee bank has originated 26 SBA loans totaling $3.6 million. Vice President for Business Banking Development Liz Lambrecht can be reached at 651-259-1226/ llambrecht@couleebank.net<
On another note, SBA borrowers, including veterans and their families, currently have the opportunity to save on fees on smaller loans. Over the past two fiscal years, more than 1800 borrowers have saved $1.8 million in SBA loan fees in Wisconsin.
About the Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. For more information, visit www.sba.gov<http://www.sba.gov
