ANN ARBOR, Mich. — This summer has been a busy one for Michigan Business Connection, which was recently chosen to provide underwriting expertise for the CU Systems Fund.

The business lending CUSO said it will work with CUNA Mutual Group's fund that allow for the purchase of business loans from credit unions and the sale of shares in them to other interested credit unions. CUNA Mutual created the fund in 2005.

In August, MBC also secured its first servicing acquisition with $793 million Credit Union One's commercial loan portfolio, the CUSO said. As Michigan's economy continues to struggle, MBC has reached out to credit unions and other organizations donating its time and services. The CUSO and Financial Plus FCU provided financing for a new warehouse facility and waived all closing costs, said William Beardsley, CEO of MBC.

“The current economic climate creates a bittersweet existence for community lenders like credit unions,” Beardsley said. “Never before have local lending knowledge and decision making been more important as we face unprecedented challenges to our Michigan economy and the financial stability of our borrowers.”

The CUSO is also gearing up for a comprehensive Small Business Administration initiative for its credit union clients. Beardsley said more information will be available on SBA basics and financing.