For a small business looking to secure financing, time is everything. So, when considering SBA loan servicing partners, you want to ensure that they will offer a speedy, simple and streamlined process.

To do so, a lending partner must be knowledgeable about the entire SBA process, including its rules and regulations. Keeping up with the latest changes takes significant time and resources. Instead of investing the resources in a full-time team, you can partner with an SBA loan servicing provider (LSP) that will manage the process on your behalf, ensuring compliance and protecting your guarantees.

SBA Loan Servicing Partners: Choosing the Right Support for Your Business

An SBA servicer handles a variety of tasks related to an SBA-backed loan, including payment processing and distribution, compliance monitoring, and acting as the communication bridge between borrowers and lenders. A strong SBA loan servicing partner saves your organization money by reducing the need to staff up your own department while delivering exceptional customer service and maintaining strict regulatory compliance.

Whether it’s an SBA 7(a) loan to purchase a building or a 504 loan to buy and renovate equipment, our team is here to help you make your vision a reality. When Dallas Nestvold opened Revived Iron Auto Repair, we stayed in contact throughout the project and were available to answer his questions. Ultimately, our dedicated lending team helped him grow his business and create jobs in his community. Learn more about how Stearns Bank can serve your needs by contacting us today.