The SBA's preferred lender program has added the $315 million USC Credit Union to its ranks.
The designation allows the Los Angeles-based credit union to offer quicker loan approvals, closing, and servicing as well as liquidation authority. The SBA looks at production volume, members or customers' use of the agency's loans, a financial institution's handling of the loan documentation as well as its overall financial strength, according to the credit union.
USC CU said it launched its small business lending program more than a year ago.
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