SpencerBANK has earned preferred lender status from the U.S. Small Business Administration (SBA).

As a preferred lender, SpencerBANK has the ability to make final decisions on SBA loans, which streamlines the approval process. The bank achieved preferred lender status by demonstrating its expertise in working with the SBA on its various loan programs.

"We are very excited to see SpencerBANK elevated to the status of SBA preferred lender (PLP)," Massachusetts SBA director Robert Nelson said in a statement. "PLP status is granted only to banks that are determined to have solid SBA experience levels, and so we congratulate this lender and recognize their level of commitment to small business and SBA programs. This is a win-win for small businesses in the community the bank serves."