Despite the temptation of potential revenue, CU Business GroupLLC CEO Larry Middleman advised credit unions to rethink businessloans that may not be worth the trouble.
“Don't give in to the temptation to make a loan that should notbe made, just because of the high yield and loan fees,” Middleman told attendees at CUBG's National Business ServicesConference in Portland, Ore., on Monday.
Middleman said two key factors for successful business lending are always following prudent underwritingpractices and spotting the early detection of problem loans. Creditunions should also keep up with annual reviews, he offered.
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