New Authority Means Faster Service for Borrowers
COLUMBUS - Telhio Credit Union has been designated as a U.S. Small Business Administration Preferred Lender, which grants them the authority to process, close, service, and liquidate most SBA-guaranteed loans without prior review. For borrowers, this means faster service with a local, community-focused lender.
"The Preferred Lender Program (PLP) recognizes financial institutions' proficiency with SBA lending and makes SBA loans more accessible for small businesses," said Terry A. Bolden, SBA Central and Southern Ohio Acting District Director. "Telhio is consistently at the top of the district's list of high-performing credit unions and receiving this designation will enable them to provide much-needed capital and SBA-backed resources to our small business community."
The PLP designation is held by only 23 of Ohio's 192 SBA-affiliated lenders.
Telhio Credit Union is based in Columbus with locations in Fairfield, Hamilton, Grove City, and Worthington. The bank has originated more than 200 SBA loans totaling approximately $55 million and is designated as a Community Development Financial Institution—an organization that shares the common goal of expanding economic opportunity in low-income communities by providing access to financial products and services for local businesses.
Telhio Credit Union Chief Sales Officer Derrick Bailey handles SBA lending and can be reached at (614) 221-3233.
To learn more about the SBA Central and Southern Ohio District Office visit Columbus District Office | The U.S. Small Business Administration | SBA.gov.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
