CU Business Capital Ramps Up Loan Processing Deal with Lending Solutions
MIRAMAR, Fla. - Nearly five months after its launch, CU Business Capital LLC is moving forward with its commercial lending program for credit unions. The CUSO, launched by $2 billion Eastern Financial Florida CU in July, has just signed on with Elgin, Ill.-based Lending Solutions Inc. to provide its credit union clients with access to loan and lease applications via a call center. Applications can be processed for commercial vehicles, equipment, commercial mortgages, SBA loans, working capital loans, and lines of credit. "Small business owners are busy during the day running their businesses," said Bert Bryan, president of CUBC. "They want fast and easy financing access early in the [morning] or in the evening." CUBC is hoping to bring the emphasis back to business deposit services. According to the CUSO, only 30-40% of businesses need financing on a regular basis, but 100% of all organizations use deposits services and cash management.