United Central Bank Announces Changes to Assist Small Businesses
United Central Bank, one of the top Small Business Administration (SBA) lending banks in the United States and a designated “SBA Preferred Lender”, has announced changes to loan programs to assist small business borrowers.
“United Central Bank remains committed to small business lending. The changes in the SBA loan programs will help small businesses obtain loans for purchasing and refinancing commercial real estate, supply working capital, promote business expansion and acquisition, and purchase inventory and equipment,” stated Shafiq Khan, Sr. VP and Regional Manager of United Central Bank in a press release.
On March 16, 2009, the Small Business Administration and the U.S. Department of Treasury implemented changes to raise some loan guarantees up to 90 percent on SBA’s 7(a) loan program and eliminated certain loan fees on SBA 7(a) and 504 Certified Development Company loans as part of the US government’s Recovery Act. The changes have immediate and beneficial impact for small business borrowers.
“The changes in the SBA programs offer an excellent opportunity for small businesses. As one of the most experienced and successful SBA lending institutions, these changes will help speed the flow of loans to borrowers and assist in saving and creating jobs throughout the communities served by United Central Bank,” said Shafiq Khan.
United Central Bank, with over $1 billion in assets, operates a total of eighteen full-service branches in Texas, California, Virginia, Maryland, and Georgia. The bank, in addition to SBA loans, offers a full line of business and personal banking products and services.
For more information on SBA loan programs and any other financial services, please contact Shafiq Khan at 949-203-2790 or visit the Bank’s website at www.unitedcentralbank.com.
