Harmony Bank Awarded SBA Preferred Lender Status

Posted on January 20, 2014 By

Harmony Bank is proud to announce its approval as a U.S. Small Business Administration (SBA) Preferred Lender, which awards Harmony a Preferred Lender Program (PLP) status. In 2013, Harmony Bank launched its SBA loan department and this new status allows the bank to determine SBA loan eligibility – streamlining the procedures for providing financial assistance to small businesses.

The SBA carefully considers and selects lenders seeking PLP status based on their record with the SBA and a demonstrated proficiency in processing and servicing SBA-guaranteed loans. Tom Lilley, Harmony Bank’s Director of SBA Lending, is leading the SBA lending department and charged with fostering SBA portfolio growth throughout the state. With more than 20 years of SBA lending experience, Lilley most recently served as business development officer and SBA lender for TD Bank, Manahawkin. He was a loan underwriter for the CIT Group and a business development officer at Commerce Bank, later acquired by TD Bank.

“To be awarded the SBA’s Preferred Lender status is a privilege and we are proud to be recognized for our lending performance and reputation,” said Harmony Bank President and Chief Executive Officer, Michael Schutzer. “This distinction, coupled with Tom Lilley’s proven track record and experience, will best position Harmony Bank to efficiently streamline the SBA lending process for our current and prospective commercial customers.”

Harmony Bank, with headquarters in Jackson, N.J., is a true community bank organized in 2008 by a group of local successful businessmen with a mission to provide both consumers and small- to moderate-sized businesses a uniquely responsive and highly personal banking alternative. Currently operating branches in Jackson, Lakewood and Toms River, Harmony Bank provides an extensive product and service portfolio for consumers and businesses, including checking accounts, online banking, electronic bill pay, money market accounts, IRAs, CDs, commercial lines of credit, commercial mortgages, and SBA loans.