(Bridgehampton, NY, June 27, 2016) BNB's Small Business Administration (SBA) Lending team has received the prestigious designation of Preferred Lender from the U.S. Small Business Administration. The Preferred Lenders Program (PLP) streamlines the procedures necessary to provide financial assistance to the small business community. Few banks carry this designation, which empowers the bank to work directly with the borrower.
Lenders are considered for PLP status based on their record with SBA, and must have demonstrated a proficiency in processing and servicing SBA-guaranteed loans. The BNB SBA team has over 30 years of experience working with small businesses and has provided many loans to assist local businesses growth. "We are very pleased to receive the Preferred Lender designation from the SBA. As a community bank we want to be able to offer financial support to all levels of business and we are committed to the small business segment. With our exceptional SBA team, headed by Michael Ogus, we expect to develop long term partnerships with small businesses as they achieve their financial and growth goals," noted Kevin O'Connor, President and CEO of BNB.
Michael Ogus, Senior Vice President and SBA Team Leader came to Bridgehampton National Bank (BNB) with over thirty years of diversified bank lending experience. He developed the SBA Lending department at Community National Bank (CNB) and built it to be one of the top PLP lenders in the Long Island and New York Regions. Mr. Ogus joined BNB as part of the acquisition of CNB. His team includes Eileen O'Brien, Vice President, also a former member of the CNB team, who brings over 25 years of experience in both commercial lending and credit underwriting to her successful tenure working with small business customers.
Established in 1910, the Bank, with assets of approximately $3.9 billion, operates 40 retail branches from Montauk to Manhattan. In addition, BNB has lending offices in Riverhead and New York City. Title insurance services are offered through a subsidiary, Bridge Abstract and investments through Bridge Financial Services. The Bridgehampton National Bank has a rich tradition of involvement in the community, supporting programs and initiatives that promote local business, the environment, education, healthcare, social services and the arts.