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BECU Among Washington's Top SBA 7(a) Lenders

TUKWILA, Wash. - Boeing Employees Credit Union continues to rank high for its Small Business Administration's 7(a) loan program activity. According to SBA, the $6.4 billion credit union made 61 loans totaling $6 million as of May 31. BECU is ranked above Washington Mutual Inc. of Seattle, which made 55...

By Staff Writer | Updated on July 11, 2006

TUKWILA, Wash. – Boeing Employees Credit Union continues to rank high for its Small Business Administration’s 7(a) loan program activity. According to SBA, the $6.4 billion credit union made 61 loans totaling $6 million as of May 31. BECU is ranked above Washington Mutual Inc. of Seattle, which made 55 loans totaling $1.2 million through the same period. BECU has the distinction of becoming the first credit union in Washington to be granted SBA’s Preferred Lender status. The designation allows BECU to secure SBA loan guarantee approval in as little as one day versus five days or more without the designation. Bank of America still commands the top spot in the state with 335 SBA 7(a) loans totaling $8.3 million, and Minneapolis-based U.S. Bank came in second with 328 7(a) loans totaling $22.5 million, according to SBA data.

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