Bank of Ventura Receives Top SBA Lending Status

The Bank of Ventura has received Preferred Lender Program status, the highest level attainable for Small Business Administration lending and processing.

With the new designation, the bank can act in the capacity of the SBA rather than seeking SBA approval for loans.

“The biggest advantage is a more expeditious processing of SBA loans,” said bank president and CEO Joseph D. Kruetz. “By dealing with a [preferred] lender, you know your loan is being processed by a recognized lender in the SBA industry.”

SBA loans can provide up to 90% financing for the purchase or refinancing of commercial real estate property over 25 years. Equipment loans can be provided for up to 10 years, and working loans are provided for up to seven years.

The Bank of Ventura, in operation since 1988, is at 5808 Telephone Road.