TUKWILA, Wash. - Just six months shy of its one-year anniversary, BECU's small business services division has made an impressive start. In the first six months of operation, the $5 billion BECU's Small Business Services has become the eighth largest issuer of SBA loans for the Seattle district in terms of the number of loans disbursed, granting 25 loans for a total of $1.6 million. Despite that high ranking, the average SBA loan size granted of $64,000 is well below that of other lenders, according to Arnie Gunderson, BECU director of Small Business Services. "This is consistent with the desire of BECU to focus on meeting the needs of small business (owners) who are often overlooked by the banking community," Gunderson said. At the end of April BECU anticipates having approximately $20 million in small business loans with an average loan amount of $50,000. As of April 6, the credit union has 2,250 small business members that represent more than $20 million in deposits. -msamaad@cutimes.com
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From the April-20, 2005 issue of Credit Union Times Magazine • Subscribe!
BECU Small Biz Services on Growth Path Six Months Out
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