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applying for a small business loan on an iPad Source: Shutterstock.

A Philadelphia-area business lending CUSO launched a new subsidiary Thursday designed to provide small loans to feed the growth of successful companies without relying on real estate collateral.

Member Business Financial Services of Trevose, Penn., has created Nu Direction Lending, LLC, with the help of a fintech that will enable it to offer business owners the ability to apply online or with their mobile devices for loans usually considered too small or too complex for credit unions to handle, MBFS CEO Mark Ritter said.

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Jim DuPlessis

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