Regent Bank Gains SBA’s Preferred Lender Status
Tulsa, OK, June 6, 2019 – The U.S. Small Business Administration recently granted locally-owned Regent Bank Preferred Lender Status (PLP) for their Participating Lender Program. As a Preferred SBA Lender, Regent Bank is granted the highest level of independence and most desirable accreditation extended to lenders. This designation allows Regent Bank to make decisions locally and independent of SBA review, for a more streamlined and transparent process.
“Regent Bank is so honored to be granted preferred lender status by the SBA,” says Sean Kouplen, Chairman & CEO of Regent Bank. “We were a top 5 Oklahoma SBA lender in 2018 and this will only enhance our ability to serve the Oklahoma and Missouri markets. Being a preferred lender will allow us to serve our clients more quickly and efficiently so they can obtain the capital they need.”
Under the Preferred Lenders Program, the SBA delegates the final credit decision, approval of the loan and issuance of the SBA loan number, and most servicing authority to this carefully selected group of lenders called, PLP lenders. Lenders are considered for PLP status based on their record with SBA, and they must demonstrate a proficiency in processing and servicing SBA-guaranteed loans. PLP lenders know how to determine eligibility, properly structure the loan, and collect appropriate documents to keep the process moving smoothly. All of this leads to a successful, efficient, and streamlined process for everyone involved.