North State Bank Gains "Preferred Lender" Designation From U.S. Small Business Administration

RALEIGH, N.C., Sept. 5, 2017 /PRNewswire/ -- The Government Lending Division of North State Bank recently earned the "Preferred Lender" designation from the U.S. Small Business Administration's (SBA) Preferred Lenders Program (PLP) announced Brian S. Hedges, North State Bank executive vice president and chief credit officer. North State Bank's government lending team is based out of Raleigh, North Carolina, and provides lending services to companies across the U.S.

As a preferred lender, North State Bank can approve, underwrite and service SBA-guaranteed loans without prior review from the SBA, improving the Bank's turnaround time for loan decisions and funding. The Bank earned this designation by demonstrating proficiency in processing and servicing SBA-guaranteed loans.

"We are extremely pleased to have earned the SBA's Preferred Lender designation," commented Hedges. "One of our essential roles as a community bank is to provide small businesses with access to capital. As a preferred lender, we can review and respond to loan requests quickly and efficiently, putting money where it is needed—in the community."

Senior Vice President and Director of Government Lending Larry Moran said, "This is a big deal for us and for the customers we serve. This year we were named one of the Top 20 SBA Lenders in North Carolina. As a preferred lender, we can help even more businesses access the funding needed to thrive."

Founded in 2000, North State Bank is a full-service community bank serving Wake and New Hanover counties through seven full-service offices, and is the parent company of North State Bank Mortgage and CommunityPLUS.

NorthStateBank.com

This news release may contain forward-looking statements. Actual results might differ materially from those projected in the forward-looking statements for various reasons, including our ability to manage growth, changes in real estate values and the real estate market, regulatory changes and increased deposit insurance assessments, economic conditions, changes in interest rates, substantial changes in financial markets, loss of deposits and loan demand to other savings and financial institutions and our limited operating history. 

SOURCE North State Bank