CIT Small Business Lending Corporation, the nation's No. 1 Small Business Administration (SBA) lender for the last five years and a subsidiary of CIT Group Inc., announced today that the US Small Business Administration has extended its Preferred Lender Programme status in 65 SBA districts and expanded the company's authority in seven additional districts. CIT is now a Preferred Lender in virtually all areas of the country.
The SBA Preferred Lender Program (PLP) streamlines loan processing and approval processes for US small businesses. Under this programme, the SBA delegates loan approval, closing, servicing, and liquidation authority to experienced lenders that are carefully selected for their expertise in processing and servicing SBA loans.
