The Beverly Cooperative Bank has been awarded the Preferred Lender Program (PLP) designation by the U.S. Small Business Administration (SBA).
This designation helps shorten the approval process for small business loans, according to a statement.
"Our new PLP status will help put money in the hands of Beverly Cooperative Bank’s current and prospective business customers more quickly," said Mike Wheeler, senior vice president of commercial lending at Beverly Cooperative Bank. "Now we can underwrite, approve and close a loan in a shorter period of time."





