SALT LAKE CITY, Utah — If you're looking for the hype man for business lending within the credit union movement, look no further than Kent Moon.
For those removed from Generation X and Y lingo, the hype man is the energetic person who comes on stage to get the crowd moving and worked up into a frenzy before the star makes his or her entrance. Talking with the president/CEO of the Member Business Lending, LLC, one right away gets the impression that Moon is on a mission to press upon credit unions the competitive advantage of entering the business lending arena.
And, Moon has much to be hyped about. In under three years, MBL has shot to the top spot as the nation's largest Small Business Administration credit union lender, originating 40% of all credit union-based SBA 7(a) loans in the U.S, according to the CUSO. It produces 40% of all SBA loans in Utah and is on track to do 60% by year end. Among all SBA lenders in the country, it is ranked 20th. With 23 member-owners, MBL has $139 million in loans and $133 million in SBA loans in its portfolio.
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