The $358 million Members Choice Credit Union in Houston has been named to the Preferred Lender Program by the U.S. Small Business Administration.
The designation allows it to make final credit decisions and most servicing and liquidation authority for the SBA’s 7(a) loan program, according to the CU.
After launching its business lending department in 2009, Members Choice was recognized by the SBA’s Houston district office for its loan performance in January. To date, the 36,000-member credit union said it has granted over $16 million in business loans to a variety of small businesses.
“Being a part of [the PLP] program allows Members Choice Credit Union to help create jobs and further economic development in our area, and we couldn't be happier about that,” said Steve Gilman, president/CEO.