Why Work with an SBA Preferred Lender?

As a member-owned organization, we are deeply committed to empowering our members and strengthening our community. By supporting businesses in their growth, job creation, and local investments, we strive to make a lasting impact.

In this article, you will learn about the SBA, Preferred Lender status, and the benefits of partnering with a Preferred Lender institution:

Who is the SBA?

The Small Business Administration (SBA) is a federal agency dedicated to helping businesses access the resources necessary for success. While the SBA provides a range of services, it’s most recognized for its loan programs that help businesses secure capital by reducing lender risk.

The SBA doesn’t lend money to borrowers directly, rather to obtain an SBA loan, businesses must work with an approved lending institution . While there are approximately 800 SBA-approved lenders, partnering with an SBA Preferred Lender offers small businesses unique benefits. In 2024, we proudly became an SBA Preferred Lender.

What is a Preferred Lender?

A Preferred Lender is a financial institution authorized to originate, approve and process SBA loans without direct administrative oversight . To earn this status, lenders must showcase a proven track record of successfully managing and financing SBA loans.

Benefits of Working with a Preferred Lender

Faster Approvals

• Preferred Lenders can make credit decisions on behalf of the SBA, significantly reducing waiting times, and allowing small businesses to access the funds they need sooner.

Simplified Documentation

• Preferred Lenders may streamline some of the paperwork required, making the application process smoother and less time-consuming. By reducing the amount of documentation needed, they allow small businesses to focus more on their operations.

Flexibility

• Preferred Lenders are experienced in structuring loans to meet the unique needs of small businesses in their local community. This local expertise ensures that the financial solutions offered are well-suited to the challenges and opportunities faced by local businesses, while also keeping their best interests in mind.

Why CommunityAmerica?

"We assisted two young entrepreneurs who were trying to acquire real estate for their therapy practice. The first institution they approached was not a well-versed SBA and they were under contract with the seller but could not get the loan processed in time. They turned to CommunityAmerica, and thanks to our timely response, we were able to offer an expedited approval and meet the contract cling date – precenting the seller from taking the property back to market.” – Sam Jones, Senior Commercial Relationship Manager.

As a trusted preferred lender, our team is continually undergoing training and education, working directly with the SBA in Kansas City. This ensures we stay informed on current program changes and legislation and continuously improve our internal processes, creating a user friendly and efficient process.

We take pride in the work we do and remain committed to empowering our members while fostering a thriving local economy. Together, we can build a stronger, more resilient community. Our team of dedicated commercial managers is here to help you secure the funding you need to succeed!

To find out if an SBA loan would be right for your business, speak to one of our experienced Relationship Managers at 913.905.6673, request a call or visit your nearest branch location.