California United Bank, a subsidiary of CU Bancorp, has announced its receipt of Preferred Lenders Program (PLP) participant status with the U.S. Small Business Administration (SBA).
The SBA created the Preferred Lenders Program in order to streamline procedures and facilitate quick processing of financial assistance applications for small businesses. Approved based on their past records with the SBA, PLP lenders must have demonstrated a proficiency in originating, processing, and servicing SBA-guaranteed loans.
PLP lender is the highest bank designation granted by the SBA, reserved for top-tier bank lenders only. California United Bank’s receipt of PLP status is indicative of the company’s team dedication toward building and expanding a superior SBA lending platform that supports community entrepreneurial achievement. Receiving this status also furthers the company’s lending power to drive small business development and job growth.
Lenders for California United Bank have an average of 20 years of experience in aiding small businesses through SBA loan programs. SBA loans have many benefits that enable small businesses to keep their cash flows for operational expenses and spend less on debt repayment, including lower down payments and longer repayment terms than offered by conventional bank loans.
California United Bank, a subsidiary of CU Bancorp, recently celebrated the seventh anniversary of its opening. California United Bank offers a full range of financial services, including credit and deposit products, cash management, and Internet banking for businesses, nonprofits, entrepreneurs, professionals, and high-net-worth individuals throughout Southern California. The company has offices in the San Fernando Valley, Santa Clarita Valley, Conejo Valley, Simi Valley, Los Angeles, South Bay, and Orange County.
For more information, visit www.cunb.com
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