Whitewater: On September 20, 2011, Wisconsin SBA District Director Eric Ness presented First Citizens State Bank, President James Caldwell with a plaque in recognition of First Citizens attaining Preferred Lender status with the Small Business Administration.
The Preferred Lenders Program (PLP) is another step in SBA’s process of “streamlining” the procedures necessary to provide financial assistance to the small business community. Under PLP, SBA delegates loan approval, closing, and most servicing and liquidation authority and responsibility to these carefully selected lenders. They are also required to have the ability to develop and analyze complete loan packages and a satisfactory performance history with SBA. First Citizens State bank is now one of these selected lenders.
James K. Caldwell, President of First Citizens states, “We are very pleased to be approved as a Preferred SBA Lender, as it will provide our bank with expanded delegated loan approval authority. This means we will be able to provide our customers with even faster and more timely responses, to help jump start new expansion projects.”
“We are pleased to congratulate First Citizens State Bank for attaining Preferred Lender status,” said SBA Wisconsin District Director Eric Ness. “PLP status will enable the bank to provide a quicker turnaround time on responding to requests to small business entrepreneurs seeking SBA guaranteed financing.