Preferred SBA Lender

Grow Your Small Business with bankHometown

bankHometown has gained recognition from the U.S. Small Business Administration as a preferred lender participant (PLP) for its 7(a) Loan Program.

A PLP Lender is considered an expert in SBA regulations and guidelines and is granted the authority to act as a direct agent of the federal agency. As a result, small business loans approved by bankHometown are automatically approved by the SBA. Non-PLP members seeking SBA benefits and protections for small business loans are required to gain separate SBA approval, a process that can often delay a loan’s availability.

For small business borrowers, loans backed by the SBA 7(a) Loan Program can be utilized for a variety of forward-thinking projects, including land acquisition and building purchases; renovation, conversion or expansion of an existing facility; building construction, and purchase of infrastructure, inventory and raw materials. Those loans also can be used to start a business or as leverage to improve leaseholds and/or working capital. Under certain conditions, the loans also can be used to refinance outstanding debt.

Program participants are privy to valuable investment leverage: the SBA guarantees individual business loans up to $5 million, which significantly reduces a lender’s risks pertaining to borrower repayment. The program also affords flexibility in loan structures based on PLP assessment of individual borrowers.

  • 7(a) Loans
  • 504 Loans
  • Contract Lines of Credit
  • Start-up Lending

The program is open only to for-profit businesses that meet SBA standards for overall size, nature of business, use of proceeds, and availability of credit from other sources, among other factors. For more information about bankHometown, call 888-307-5887