SALT LAKE CITY — Seventy percent of all credit union Small Business Administration 7(a) loans were originated by clients of Member Business Lending, LLC as of Aug. 31, a 14.1% increase from the previous reporting period, the CUSO said this week.
MBL is also reporting that it has moved up in the overall SBA 7(a) loan producer ranking for all financial institutions going from 20th to 18th in the country.
"This jump in our national ranking illustrates the value and benefit of MBL affiliation for credit unions nationwide," said Kent Moon, president/CEO of MBL. "Our expanded membership, geographic coverage and overall loan processing efficiency are the fruits of tangible bottom line benefits enjoyed by each member affiliate."
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In the last six months, MBL has opened a new regional office in Hawaii, added two Hawaii-based member affiliates, and expanded its California presence with the addition of two new members. The CUSO will also kick off its Member Business Lending Leadership Summit Oct. 9-11 at the Bellagio Resort in Las Vegas.
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