SBA Preferred Lender
A lender with delegated SBA authority that can approve many 7(a) loans without sending the full file to the SBA for a second yes.
Last updated September 5, 2026
Preferred Lenders (PLP) have earned delegated authority from the SBA, which can shorten approval on eligible 7(a) loans. The borrower still applies to the bank; the SBA guarantee is not automatic. “Preferred” describes the lender’s status with the SBA, not a government endorsement of a particular deal. Buyers should compare credit boxes, fees, and closing timelines across lenders.