For its SBA lending efforts, Financial Resources Federal CreditUnion was recently named the agency's Breakthrough Lender in NewJersey for 2011.
|The $400 million credit union in Bridgewater, N.J., netted 13SBA loans totaling $1.5 million, making it the most active newSBAlender in the state this year, according to Financial Resources. It participates in the agency's 7(a) andPatriot Express loan programs.
|“We are very excited about this. We were able to meet memberneeds with these SBA loans. It's good for the economy and for us,it is the start of what we expect to be long-term success inbusiness lending,” said Lena Matthews, CEO of Financial Resources.
|Mark Sovelove, senior vice president of lending, said the creditunion has been active in business lending beyond SBA loans. Earlierthis year, it approved a $2 million solar loan, he noted.
|“Our SBA success this year has been a true team effort,”Sovelove said.
|Financial Resources said it is the first lender to receive theBreakout Lender award in New Jersey. The SBA's New Jersey districtoffice held its lender awards ceremony Nov. 8. According to thecredit union, it competed for the award against several banks.
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