Bank / Credit Union

BCT receives approval for SBA preferred lender

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December 16, 2021

BCT Bank of Charles Town, based in West Virginia, Virginia and Maryland, is now a Small Business Administration Preferred Lender, the first for a West Virginia chartered bank. With this status, BCT can directly approval loan applications rather than processing them through the SBA, according to a press release.

Small businesses will have a more stream-lined application and a quicker approval process by working through BCT as a Preferred Lender.

"Supporting small businesses is essential to fulfilling our vision of helping our communities grow. Being selected as a Preferred Lender for the SBA allows us to keep decision-making local to provide access to a broad range of SBA-backed loans," Alice Frazier, president and CEO, BCT, said in the release. "Small business owners who apply for an SBA loan through BCT will work with a team of SBA experts ensuring a quality customer experience."