The Small Business Administration has named the $1.5 billion FAIRWINDS Credit Union among its newest preferred lenders.
The status allows the Orlando-based credit union to streamline the loan approval process and offer faster turnaround time. Jorge Machado, senior vice president of business services, expects FAIRWINDS to reduce SBA loan processing by two to three weeks under the SBA's Preferred Lender Program.
The agency also awarded the credit union the ability to offer its Express and Patriot Express loans, which are available up to $1 million and do not require the typical, in-depth SBA application process, according to FAIRWINDS. With the SBA's temporary increase in loan size to $5 million, Machado said the credit union is poised to help even more small businesses.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
