With an impressive track record and unwavering commitment to helping small businesses thrive, Choice Bank has earned top rankings from the Small Business Administration (SBA) in North Dakota and Minnesota.
In North Dakota, Choice Bank holds the top spot for 7(a) loan units, showcasing our unmatched commitment to helping local businesses access the capital they need to grow and succeed.
In Minnesota, Choice Bank holds the eighth position based on the number of SBA loans originated and the twelfth position by loan volume. These rankings reflect our role as a critical player in the Minnesota small business community, providing much-needed financial support to entrepreneurs and business owners in the region.
What Does This Achievement Mean for Choice Bank Customers?
This recognition as a top SBA lender translates into several benefits that directly impact entrepreneurs and small business owners:
- More Access to Capital: Small businesses often face challenges when seeking financing through conventional means. Our success as a top SBA lender means we can provide more access to capital to small businesses that typically struggle to secure loans through traditional avenues. This additional funding can be a lifeline for businesses seeking to expand, hire, or invest in their operations.
- Supporting Existing Clients with Growth: Our commitment extends beyond simply offering loans. We understand that our clients’ growth is intricately tied to our own success. Being recognized as a top SBA lender empowers us to better support our existing clients with their expansion plans and financial needs.
Choice Bank’s achievements are not just about the accolades but also about our ability to serve customers more efficiently and effectively. As an SBA Preferred Lender, we can provide small businesses with:
- Faster Response Times: We have the ability to approve, book, and service loans on our own accord, which means much faster response times for loan applicants. This streamlined process eliminates the need to send every loan application to the SBA for credit decisions, which can add six to eight weeks to the approval process. The faster response times ensure that businesses get the funding they need when they need it.
Choice Bank’s recognition as a top SBA lender in both North Dakota and Minnesota is a testament to our unwavering commitment to supporting small businesses and entrepreneurs.
Every business is unique, and so is our financing. At Choice, we recognize small businesses impact the culture and economy from our local communities to nationally. An SBA loan can provide the long-term funding you need to take your small business to the next level. Learn more here!