San Diego Private Bank Awarded Preferred Lender Status by SBA

After successfully launching an SBA Division earlier this year, San Diego Private Bank has been awarded Preferred Lender Program (PLP) status by the SBA. The Small Business Administration guarantees a portion of bank loans made to qualified borrowers for up to $5 million at attractive rates and on attractive terms in order to add jobs and stimulate economic growth. PLP status allows SDPB delegated authority to guarantee loans on behalf of the SBA thereby accelerating loan funding.

Michael T. Valenti, Senior Vice President-SBA Division Manager, commented: "From the outset, we structured the SBA division for excellence in client servicing, underwriting and processing, with the intention of building a leading SBA organization."