Business lending expert Member Business Solutions LLC on Friday announced it had achieved a deal with leading researcher Barlow Research Associates to provide MBS members with access to detailed information on the financial practices and habits of small businesses.
MBS – a CUSO that is wholly owned by Southeast Corporate in Tallahassee, Fla. – presently is the only credit union-allied entity with access to the Barlow data, said MBS President Jim Gallagher.
“This will level a playing field because a lot of community and regional banks have access to the Barlow data,” said Gallagher. “Now credit unions can have it too.”
Gallagher declined to disclose the fee MBS is paying Minneapolis-based Barlow but he said that MBS members will not be charged an additional fee to access the information.
“We view this as a value-add we will provide our members,” Gallagher said.
Key to the Barlow data is that it provides extensive insight into what small business executives look for in a banking partner and also reveals what services they use and how.
“This information will help credit unions better compete,” Gallagher said.
He added that there is good news for credit unions to be found in the Barlow data. “Approval attributes are higher for credit unions in the Barlow data I have looked at. Credit unions are doing an excellent job serving small business and that is what the data reveals.”