The $398 million Financial Resources Federal Credit Union is now the fifth credit union in New Jersey to receive the SBA’s Preferred Lender designation.
The agency’s Preferred Lenders program allows selected lenders to make all final credit decisions and most servicing and liquidating responsibilities. The SBA said it still checks loan eligibility criteria.
According to the New Jersey Credit Union League, Financial Resources FCU in Bridgewater, N.J., is one of five credit unions participating in the SBA’s Preferred Lenders program.
