LAKEWOOD, Colo., April 22, 2013 (GLOBE NEWSWIRE) -- Solera National Bank, the subsidiary of Solera National Bancorp, Inc. (OTCQB:SLRK), today announced it has been named a Preferred Lender with the U.S. Small Business Administration ("SBA").
The Preferred Lenders Program ("PLP") is part of SBA's effort to streamline the procedures necessary to provide financial assistance to small businesses. PLP lenders are approved based on their past record with the SBA and must have demonstrated a proficiency in originating, processing and servicing SBA-guaranteed loans. A bank that has preferred lender status may grant approval of a small business loan and it is automatically approved by the SBA -- thus speeding funds into the borrower's hands.
"We are very proud that Solera was selected to be a Preferred Lender, which is the highest bank designation granted by the SBA and is reserved only for top-tier bank lenders," said Doug Crichfield, President and Chief Executive Officer. "Our receipt of this status is a testament to the dedication of our outstanding team and their efforts to build a dynamic SBA lending platform that supports entrepreneurial achievement in our diverse communities. Importantly, it furthers our lending power to drive small business development and job growth throughout our region."
Solera's commercial loan officers are very experienced in helping small businesses through the SBA lending programs. The benefits of SBA loans include lower down payments and longer repayment terms than conventional bank loans, enabling small businesses to keep more of their cash flow for operating expenses. Solera's website at www.solerabank.com provides additional information about the various types of small business loans we offer. Or, you can contact us at 303.209.8600.
About Solera National Bank – Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank which opened for business on September 10, 2007. Solera National Bank is a traditional, community, commercial bank with a specialized focus serving the Hispanic market. It prides itself in delivering personalized customer service — welcoming, inclusive and respectful — combined with leading-edge banking capabilities. The Bank is also actively involved in the community in which it serves. For more information, visit http://www.solerabank.com.
CONTACT: SOLERA NATIONAL BANK DOUGLAS CRICHFIELD, PRESIDENT & CEO (303) 937-6429 ROBERT J. FENTON, EVP & CFO (303) 202-0933Source:Solera National Bancorp, Inc