October 14, 2011
Athol Savings Bank Earns Preferred Status From SBA
Athol Savings Bank has been designated a preferred lender by the Small Business Administration, according to the SBA.
Preferred lenders have high volumes of SBA lending and are given authority to approve, close, service and liquidate small business loans. Those privileges allow preferred lenders to make loans more quickly.
The SBA awards the status to lenders that have shown a successful track record and understanding of the loans. The SBA can guarantee loans up to $2 million.
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