Langley FCU Leads District in SBA Loan Volume
For its Small Business Administration lending efforts, Langley Federal Credit Union said it was recently named the top credit union in loan production for its district.
The $1.8 billion cooperative in Newport News, Va., said its total SBA loan volume was $1.35 million for the SBA fiscal year that ended Sept. 30.
That figure pushed Langley to the top of the agency’s loan production ranking from the SBA’s district office in Richmond, Va. The district spans from Virginia Beach/Chesapeake to the borders of Prince William County.
Langley, which has been offering SBA loans since 2008, was also ranked 12th overall among all SBA lenders in the Richmond district region, the credit union said.
“Credit unions play an important role in SBA and small business lending,” said Jayne Armstrong, director of the SBA Richmond district office. “Thanks to this critical partnership, small business owners have more access to a wide range of financing options than ever before.”
Langley’s business lending staff has worked extremely hard to increase its SBA loan volume, said LFCU Vice President of Business Lending Natasha Merz.
“It’s great to see our hard work and persistence pay off with the recognition from the Richmond District Office of the SBA,” Merz said. “We realize the importance of small businesses and will continue our support in the upcoming year.”