HARRISBURG, Pa. — The Pennsylvania Credit Union Association isaiming to connect buyers and sellers of member business loanparticipations through its new creation, Loan Trader.
|Loan Trader lists loans available for purchase by industry type,type and location of collateral, and other critical factors,according to the association. Buyers may shop for participationloans fitting their own lending criteria. The exchange is onlyavailable to league-member credit unions and business servicesCUSOs that operate in the Mid-Atlantic region.
|The association issued a reminder that NCUA requires that creditunions considering buying any loan participation perform their owndue diligence, and reanalyze the credit as if they were originatingthe loan. At the request of any potential buyer, sellers canrelease the data necessary for completion of this independentanalysis.
|A free tutorial on Loan Trader is available at www.pcua.coop.Access to the site is also available for an annual subscriptionfee. The service is offered through Business Advisory Services, asubsidiary of the Pennsylvania CU Association.
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