SAN DIEGO — North Island Credit Union says it is the first credit union in San Diego County to become a member of the Small Business Administration's Preferred Lender Program. The designation streamlines the approval process for certain SBA loan requests, which results in a quicker turnaround time for loan approvals and funding for North Island's small business members. "Preferred Lender status is the SBA's premier accreditation," said Jeff Stone, executive vice president of business services at North Island. "This will allow North Island to offer our small business members the fastest and most professional loan services available in San Diego and Riverside counties."

As one of only two San Diego-based credit unions approved for SBA lending, North Island said it was the first San Diego-based credit union to book an SBA 7(a) and the first to originate a SBA 504 real estate loan in San Diego and Orange counties. The $1.5 billion North Island serves nearly 112,000 members.