SAN JOSE, Calif. — Technology Credit Union is the latest in the industry to offer Small Business Administration loans to its members. The $1 billion credit union has partnered with Newtek Business Solutions to offer the guaranteed loans, which will be available in amounts ranging from $25,000 to $2 million. “With this new loan program, we now have yet another tool to help our members grow and expand their businesses,” said Sarah Samuel, assistant vice president of business services at Tech CU. “SBA loans tend to be more flexible in their requirements and offer more favorable terms to the business owner than they would get elsewhere. That’s invaluable to someone who’s trying to take their business to the next level.”
Tech CU’s small business loans will augment the credit union’s recently launched suite of business services. The line of products and services includes business savings, checking, Money Market and certificate accounts, along with business lines of credit, a business MasterCard, apartment loans for investors and a referral program for payroll and merchant processing services.