October 6, 2016
Laguna Hills, California: Harvest Small Business Finance, LLC announced today it has been designated as an “SBA Preferred Lender,” according to a notification made today by Linda Rusche, Director for the Office of Credit Risk Management, U.S. Small Business Lending Administration, (SBA). The designation of PLP is the highest designation granted by the SBA and is reserved for top tier SBA lenders. To earn the PLP designation, lenders must establish a successful track record and display a thorough understanding of SBA lending policies and procedures.
"We are very proud of the commitment and responsibility that the SBA has bestowed upon Harvest SBF in recognition of our commitment to quality lending practices and a thorough understanding and implementation of the SBA lending programs. This is a reflection of the quality people who make up our organization and the years of experience and diligence they bring to our company." noted Dave Scherer, President of Harvest SBF.
Under the Preferred Lender Program, SBA lenders such as Harvest SBF are delegated loan approval, closing, and servicing authority by the SBA. This authority allows Harvest SBF to make SBA loan decisions and close loans more rapidly, which enables borrowers to meet time sensitive deadlines.
"Harvest SBF is an aggregation of highly qualified SBA lending professionals from around the industry with extensive years of experience and integrity." "We are pleased that the SBA recognized our commitment to small businesses and the impact we will make in the communities we serve." added Chief Origination Officers and Managing Directors, Todd Massas and Adam Seery.
About Harvest Small Business Finance
Harvest Small Business Finance, LLC (“Harvest”) is a non-bank lender with the specific goal of serving small business borrowers who have traditionally been ignored by large, regional, and community banks. The increased regulatory burden placed on banks has created a standardized approach to commercial lending, leaving many small businesses behind. With a company mindset dedicated to solution oriented lending, Harvest fills the void created by traditional bank and finance companies. We offer commercial loans starting at $200,000 up to $5 million to customers in most industries.
Formed in 2015, Harvest is headquartered in Laguna Hills, California, specializing in SBA 7(a) loans up to $5 million to small businesses. An affiliate of Candlewood Investment Group, LP (“CIG”) provides transactional capital to Harvest. CIG is a New York based SEC registered investment manager with approximately $1.66 billion in net assets under management as of August 25, 2016 in predominantly credit-based strategies. For more information about Harvest SBF, go to www.harvestsbf.com.