Certified and preferred lenders are selected by the SBA to process all loan programs under the SBA Guaranty Program. There are multiple loan programs available to meet the various financial needs.
The SBA Loan Guaranty Programs assists borrowers who cannot meet the conventional loan guidelines from commercial lenders. The easiest way to obtain a SBA loan is through Certified Lenders, Preferred Lenders or Intermediaries.
Certified Lenders are the financial institutions that participate in the SBA guaranteed program and agree to SBA's conditions. In return, the SBA agrees to process any guaranteed loan application within three working days. Certified lenders account for one-third of all SBA loan guaranties.
Preferred Lenders are financial institutions chosen from among SBA's best lenders and have full delegation of lending authority for a lower rate of guaranty. Preferred lenders have a maximum SBA guarantee of 75%. Preferred lenders account for ten percent of SBA loans.
Intermediaries (which include non-profit organizations) are also selected by the SBA to process certain SBA loans.
