Business
BCT-Bank of Charles Town Approved as SBA Preferred Lender, the First for a West Virginia-Chartered Bank
BCT-Bank of Charles Town Approved as SBA Preferred Lender, the First for a West Virginia-Chartered Bank.
About this update from Potomac Bancshares, Inc.
[{"type":"text","content":"\n\n\n\nBCT-Bank of Charles Town Approved as SBA Preferred Lender, the First for a West Virginia-Chartered Bank\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBCT-Bank of Charles Town Approved as SBA Preferred Lender, the First for a West Virginia-Chartered Bank\nPR Newswire\nCHARLES TOWN, W.Va., Dec. 9, 2021\n\n\n\nCHARLES TOWN, W.Va., Dec. 9, 2021 /PRNewswire/ -- (OTC:PTBS) – BCT-Bank of Charles Town, also known as The Community's Bank, was recently approved as a Small Business Administration (SBA) Preferred Lender, the first for a West Virginia chartered bank. As a Preferred Lender, BCT will be authorized to directly approve loan applications instead of processing them through the SBA for approval. This added authority benefits small business owners with a more stream-lined application, cost savings, and quicker approval process.\n\n \n \n \n \n \n \n\n \nThere is a stringent review process by the SBA to be approved as a Preferred Lender and BCT was found to be reputable with an experienced SBA lender and management team. BCT's ongoing relationship with the SBA and demonstrated knowledge and expertise with SBA loan requirements were also considerations in their selection as an SBA Preferred Lender. \n\"Supporting small businesses is essential to fulfilling our vision of helping our communities grow.  Being selected as a Preferred Lender for the SBA allows us to keep decision-making local to provide access to a broad range of SBA-backed loans,\" stated Alice Frazier, President and CEO. \"Small business owners who apply for an SBA loan through BCT will work with a team of SBA experts ensuring a quality customer experience.\"\n\"The Bank of Charles Town is the first community bank in West Virginia to receive the Preferred Lender Program status,\" states SBA West Virginia District Director Karen Friel. \"The PLP status can help borrowers get the funds they need quicker than a standard 7(a) loan as the lender has delegated authority.\"  \nThe SBA is a cabinet-level federal agency fully dedicated to small business and provides ...