LA JOLLA, CA--(Marketwire - Dec 18, 2012) - After successfully launching a Small Business Administration "SBA" Division earlier this year, and then being named a Preferred Lender Program (PLP) lender by the SBA, San Diego Private Bank has been presented the 2012 SBA Special Achievement Award by the San Diego District Office of the SBA. The bank earned the prestigious Special Achievement Award for "attaining PLP status in the shortest timeframe of any lender in the history of SBA's San Diego District Office." In the presentation of the award, the SBA made note of the bank's "highly experienced expert SBA department and their approval of high quality loans." The SBA further noted, "San Diego Private Bank became a SBA participating lender in March 2012; they launched an independent SBA Department in April and their first loan was approved in May. In the following four months, ending September 30, 2012, they approved a total of six high quality loans totaling $6.3 million."
The SBA guarantees a portion of bank loans made to qualified borrowers for up to $5 million at attractive rates and on attractive terms in order to add jobs and stimulate economic growth. PLP status allows SDPB delegated authority to guarantee loans on behalf of the SBA thereby accelerating loan funding.
Michael T. Valenti, Senior Vice President and SBA Division Manager of San Diego Private Bank, accepted the award at the annual San Diego District SBA Awards Luncheon held on December 5th in San Diego, CA.
San Diego Private Bank was recently recognized as being the 6th largest SBA lender in the San Diego district by dollar volume as of September 30, 2012 (as published in the November 12, 2012 San Diego Business Journal).
San Diego Private Bank is a client centric bank providing superior customized financial solutions and unparalleled service through access to experienced Private Bankers 24/7. While San Diego Private Bank operates a full-service office in La Jolla, CA and an SBA loan production office in San Marcos, CA, it is the convenience of bankers meeting clients at their homes and businesses to conduct transactions that results in truly long-term, respectful and appreciative banker-client relationships. Confidentiality, creativity and convenience are cornerstones of a Distinctly Different service model.
This press release may include forward-looking statements that involve inherent risks and uncertainties. San Diego Private Bank cautions readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include economic conditions and competition in the geographic and business areas in which San Diego Private Bank operates, inflation, fluctuations in interest rates, legislation and government regulation. You should not place undue reliance on forward-looking statements and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.
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