MutualOne Bank Awarded SBA Preferred Lender Status

Mark R. Haranas, president and CEO of MutualOne Bank, announced  the Bank has been granted Preferred Lender status by the Small Business Administration. (SBA).

To achieve this standing under the SBA’s Preferred Lender Program, lenders must have a successful, high-volume SBA performance history, including proficiency in processing and servicing SBA-guaranteed loans, which can range in size up to $5 million. SBA loans can be used to establish a new business or to assist in the acquisition, operation, or expansion of an existing business.

“We are well versed in SBA loan programs, policies and procedures, and being a Preferred Lender allows us to provide expedited loan decisions through immediate consideration and quick responses from the SBA,”  said Vice President Michael Semizoglou of commercial lending for MutualOne Bank.

He added the bank's experience with SBA loan programs provides a number of distinct advantages for local start-ups and small businesses.

MutualOne Bank’s SBA loan portfolio includes businesses of all sizes and description, from a variety of industries, said Semizoglou.  “SBA loans are particularly advantageous for businesses that may not qualify under the Bank’s normal lending criteria."

“In many instances, an SBA loan is the perfect answer for the small business community,” he said.

Operating under an 1889 state charter, MutualOne Bank has full-service offices at 828 Concord Street and One Lincoln Street in Framingham, and at 49 Main Street in Natick. The Bank has a Commercial Loan Center at 160 Cochituate Road in Framingham and a Residential Loan Center at 49 Main Street in Natick.