In a new partnership, Northeast CUSO will provide SBA processing and servicing support to Texas Advantage Commercial Lenders, the business lending CUSO of Texas Trust Credit Union.
"We have a successful business lending model of our own but found that it made good sense to outsource our SBA processing and servicing to Northeast. The SBA business requires specialized knowledge, and it proved advantageous for us to partner with Northeast in that arena," said Mark Joyce, executive director of Texas Advantage.
Rick Slater, chief operations officer of Northeast in Keene, N.H., said the alliance with Texas Advantage is proof that CUSO-to-CUSO partnerships can work.
Northeast provides small business lending services to 17 credit unions and CUSOs in six states. The $693 million Texas Trust CU in Mansfield, Texas, serves more than 52,000 members.