WINSTON-SALEM, N.C., May 1 /PRNewswire-FirstCall/ -- BB&T Corporation
(NYSE: BBT) today said it has attained Preferred Lender status from the
U.S. Small Business Administration (SBA) for the SBA's Export Working
Capital Program.
BB&T was the second major financial institution to obtain the Preferred
Lender designation from the SBA. Export Working Capital Program (EWCP)
loans are designed for small businesses that need working capital to
support export sales.
"BB&T has long supported our clients' export needs through the SBA
Export Working Capital Program," said Mark Edwards, president of BB&T's SBA
Group. "Adding EWCP Preferred Lender status to BB&T's other SBA Preferred
Lender designations will allow us to continue to meet the expanding needs
of businesses both in the United States and abroad."
BB&T recently was named as a 2008 SBA Export Lender of the Year. The
annual award goes to the lender with the most SBA-guaranteed international
loans in the previous fiscal year.
The Preferred Lenders Program (PLP) is part of the SBA's ongoing effort
to make borrowing easier for small business owners. The SBA will delegate
loan approval, closing, and most servicing and liquidation responsibility
to selected PLP lenders.
BB&T's Atlanta-based SBA Group supports BB&T's 33 community bank
regions with SBA-lending guidance and products for the bank's small
business clients and prospects.
The SBA Group also operates a national SBA lending team, which serves
veterinary, dental, franchise child care, and hospitality businesses among
other industry segments. Its international SBA loan programs include Export
Express, Export Working Capital and International Trade.
The U.S. Small Business Administration annually ranks BB&T as one of
the nation's top "small business-friendly" financial holding companies, a
measure of how well it is meeting the credit needs of small companies.
With $136.4 billion in assets, Winston-Salem, N.C.-based BB&T
Corporation is the nation's 14th largest financial holding company. It
operates nearly 1,500 financial centers in 11 states and Washington, D.C.
More information about the company is available at BBT.com.
SOURCE BB&T Corporation
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Related links:
http://www.bbt.com
http://www.prnewswire.com/comp/809325.html /
CONTACT:
Mark Edwards, President, BB&T SBA Group,
+1-770-901-3284, or A.-C. McGraw of BB&T Corporation,
+1-336-733-1471
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