The U.S. Small Business Administration has named Bay State Savings Bank of Worcester an “SBA Preferred Lender.”
The designation allows the bank to make loan decisions more rapidly by giving it more authority to approve, close and service loans. The SBA said in a statement that banks are designated preferred lenders if they have demonstrated commitment and capability in serving small businesses.
Bay State Savings has assets of $300 million and has offices in Worcester, Auburn and Holden.
