Core Points - OptimumBank has been designated as a Preferred Lender under the U.S. Small Business Administration (SBA) Preferred Lenders Program, which streamlines the loan approval process for small businesses [1][2] - This designation allows OptimumBank to make final credit decisions on behalf of the SBA, significantly accelerating the loan approval timeline and enhancing financing solutions for small business owners [2][3] - The SBA 7(a) loans available through OptimumBank can be used for various business needs, with amounts up to $5 million and favorable terms [2] Company Overview - OptimumBank, founded in 2000 in Ft. Lauderdale, Florida, focuses on service-oriented banking with reasonable fees compared to larger financial institutions [4] - The bank has experienced significant growth in the past decade and aims to capitalize on this momentum in the future [4] - OptimumBank offers a range of financial solutions, including Business Banking, Business Lending, SBA Lending Solutions, Treasury Management, and Personal Banking [4] Industry Context - The SBA Preferred Lenders Program is designed for high-volume, experienced SBA lenders with a proven track record, granting them the authority to approve, close, service, and liquidate SBA-guaranteed loans [3]
OptimumBank Achieves SBA Preferred Lender Status