PITTSFIELD, Mass. — Nearly two years after becoming the first credit union in Massachusetts to become a Small Business Administration preferred lender, Greylock Federal Credit Union said it has surpassed $100 million in commercial lending.
The $1 billion credit union said it in 2007, it became the tenth largest SBA lender in the commonwealth, the top SBA credit union lender in the state and the tenth most active credit union in the country for the fiscal year ending September 2007.
The SBA has renewed Greylock's preferred lending status, which means the credit union can continue its practice of approving SBA loans with no additional reviews by government underwriters and enabling it to give faster loan approvals to small companies in Berkshire County, Greylock said.
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In 2007,Greylock approved 37 SBA-supported loans. So far this year, the credit union has approved 23 loans.
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