SYRACUSE — NBT Bank is now a Small Business Administration (SBA) preferred lender.
The status allows NBT to approve SBA loans itself, which means faster service for small businesses. NBT can now work on the loans without prior SBA review in most cases.
“Only the most active and expert lenders qualify for SBA’s premier streamlined lending program,” SBA Syracuse District Director Bernard Paprocki said in a news release. “We are pleased to add NBT Bank to our list of preferred lenders. This status will allow them to assist even more small businesses in communities where they have a presence.”
NBT has 161 branches in five states, including New York, Pennsylvania, Vermont, Massachusetts, and New Hampshire. NBT’s parent company, NBT Bancorp, acquired Syracuse–based Alliance Financial Corp. earlier in March.
Contact Tampone at ktampone@cnybj.com