The $4.3 billion Alaska USA Federal Credit Union has been recognized as Alaska's 2010 SBA 504 Lender of the Year.
The recognition is given to the lender with the highest number of approved loans as of the program's year-end date of Sept. 30. The Alaska USA business and commercial services team has earned the award two years in a row, according to the credit union.
The SBA's 504 program provides long-term, fixed-rate, subordinate mortgage financing for acquiring or renovating capital assets including land, buildings and equipment.
"Our sincere congratulations go to you and your entire staff for a job well done. As a key SBA lending partner, Alaska USA Federal Credit Union plays a vital role providing access to capital for Alaskan entrepreneurs which allows them to grow and create jobs," wrote Karen Forsland, SBA Alaska district director, in a letter to the credit union.
Of its more than 407,000 members, more than 10,400 of them are business members primarily in Alaska, according to the credit union.