Merchants & Marine Bank Receives Preferred Lender Status from the Small Business Administration (SBA)
Merchants & Marine Bank, a subsidiary of Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), announced today that it was granted Preferred Lender Program (PLP) authority by the U.S. Small Business Administration (SBA).
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“The PLP authority granted by the SBA enables Voyager Lending, a division of Merchants & Marine Bank, to approve most SBA loans in-house, expediting the approval process by eliminating the need for a separate SBA review,” explains Matthew McElveen, President of Voyager Lending, the Government Guaranteed Lending division of Merchants & Marine Bank. “While adhering to all SBA 7(a) Loan Program requirements for originating, closing, servicing, and liquidation, our PLP status empowers us to make local decisions and streamline the lending process for our clients. This translates to faster turnaround times and a more responsive experience for your business.”
The agreement was made on April 17, 2024, between Merchants & Marine Bank and the U.S. Small Business Administration.
ABOUT VOYAGER LENDING:
Voyager Lending is a division of Merchants & Marine Bank and is comprised of dedicated SBA lending professionals who work directly with small business owners across the nation, with a primary focus in the Southeast. Backed by a state-charted Mississippi bank with more than 100 years of experience, Voyager Lending provides accessible government guaranteed loans to ensure small businesses continue to thrive. For more information about Voyager Lending, please visit www.voyagerlending.com.
Casey Hill, CFO, Merchants & Marine Bancorp, Inc.
(228) 934-1307
Casey.Hill@mandmbank.com
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