ASHEVILLE, N.C. (828newsNOW) — United Federal Credit Union, which operates several branches in the Asheville area, has been designated a Small Business Administration (SBA) Preferred Lender — a status that will allow the credit union to streamline loan approvals and enhance services for small business owners.
The Preferred Lender Program status is granted to lenders with a proven track record of efficiently processing and servicing SBA-guaranteed loans. United’s designation means it can approve SBA loans faster, reducing turnaround time for entrepreneurs seeking capital.
“With this designation, we’re able to offer even more value to our business members,” Scott Gilman, United’s SBA Business Development Manager, said in a news release. “Our SBA team is passionate about helping entrepreneurs and business owners access the capital they need to succeed, and this recognition reinforces our ability to deliver on that promise.”
United’s SBA lending team brings more than 150 years of combined experience. The credit union offers a range of SBA-backed financing options, including:
- 7(a) Loan Program: Long-term funding for real estate, construction, equipment or inventory.
- 504 Loan Program: Financing for major fixed assets such as buildings or machinery.
- USDA Business & Industry Program: Loans for rural businesses with competitive terms.
United emphasizes a personalized, start-to-finish approach to SBA lending, offering tailored financial solutions to meet the specific needs of business members.
More information about United’s SBA loan programs is available here.