Good News For MBAs: Bank Gets Special Status

By the My MBA Career Content Team � Find Top MBA Degree Programs

A bank was recently given preferred lender status by the Small Business Administration (SBA), and this could help MBAs who want to start their own businesses.

Five Star Bank will now be able to process loan applications more quickly, according to the Sacramento Business Journal. The SBA Preferred Lender Program allows banks to make final credit decisions using the administration's guidelines, which means small businessmen and women won't have to wait as long to know if their request for financing has been granted.

"With more local authority, our customers will never be left to wonder what's happening with their loan," said John Shelby to the Journal. Shelby is the senior vice president of Five Star Bank.

The Preferred Lender Program is another step in the SBA's attempt at streamlining the process of issuing a loan, according to the administration's website.

Five Star has offices all over California including Rocklin, Sacramento, Rancho Cordova and Redding. If you've always wanted to start your own company but don't have a business background, consider enrolling in an MBA program today. An MBA degree and help from the SBA could be enough to get you on your way to a successful career.

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