MBL President/CEO Gordon Dames, left, with CU Direct COO Bob Child.

CU Direct will combine its expertise and networks in online lending with Member Business Lending LLC’s 14 years of experience originating commercial loans to allow small business owners to find more loan options at credit unions.

Commercial lending is one of the fastest areas of credit union portfolio growth. Federally-insured credit unions held $70.4 billion in member business loans as of March 31, up 15.7% from a year earlier. MBLs accounted for 7.2% of total loans, up from just 2.8% at the end of 2004, according to NCUA data.

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Jim DuPlessis

A journalist for decades.

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