The Small Business Administration (SBA) guarantees loans that are actually provided by a bank that sits “in the middle” of the transaction between a small business and the SBA. That lender “in the middle” is sometimes referred to as an intermediary, or an intermediary lender.
Generally, an intermediary is an organization or agent that sits in the middle of some kind of business transaction. For example, a wholesaler is an intermediary between a manufacturer and a retailer. A commercial loan broker is an intermediary between a lender and a borrower.