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The extension of S.B.A. Loan Guarantees gives further incentive for credit unions to prove their worth.
By revamping an exisiting business lending program, Randolph-Brooks drove dramatic growth without compromising their strong member service.
By revamping an existing business lending program, Randolph-Brooks drove dramatic growth without compromising their strong member service.
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As national and regional banks pull back from the small business market due to tighter underwriting standards, credit unions are presented with an opportunity to expand their foothold in this market.
With 1,930 credit unions showing business loans on their books as of the 2nd quarter, member business lending continues to be a way in which credit unions are expanding services to help members.
While representing just a shade more than 5% of total loans, member business lending is certainly the fastest growing sector for many credit unions.
Member business lending has been the fastest growing category of the lending portfolio over the last few years. To what extent have credit unions been assisting new businesses over the years using construction and development loans?
This final article in a three-part series on serving small business members addresses meeting their needs throughout their business’ life cycle while increasing retention, improving economic return and creating barriers to member attrition.
Which credit unions are using the Small Business Administration 7(a) program?