Lending

ALEXANDRIA, Va. - NCUA recently reminded credit unions that cash flow may be assigned as collateral for an MBL if its market value can be established and if its value is sufficient to satisfy the MBL rule's loan-to-value (LTV) requirements. The Cypress Group, LLC, a Florida-based MBL CUSO owned by...

WASHINGTON - As the SBA's 7(a) loan program enters its third year at a zero subsidy, the agency recently requested $17.5 billion to keep it going for fiscal year 2007. On Feb. 6, SBA requested a 2007 proposed budget of $624 million which authorizes $28 billion in loan and venture...

SAN BERNARDINO, Calif. - Kathryn Gonzales has been named the new president/CEO of Members Business Services, LLC. MBS provides commercial loan and deposit servicing for credit unions nationwide and is owned by Arrowhead Credit Union, Southern California Edison Federal Credit Union, First Financial Credit Union, USA Federal Credit Union and...

BETHALTO, Ill. - To beef up its current business member services program, Olin Community Credit Union has received approval to offer SBA 7(a) loans. The $306 million CU said the demand for business lending here allows it to serve a niche with emerging and growing small business owners. "As we...

LINTHICUM, Md. and MIRAMAR, Fla. - Member of State Employees Credit Union of Maryland will soon see an expanded business services program thanks to a new alliance. The $1.5 billion CU has become an equity partner of CU Business Capital, LLC. Through the partnership, the CU will co-design and implement...

PITTSFIELD, Mass. - Greylock Federal Credit Union recently earned the distinction of being the first credit union in the state to be designated as an SBA Preferred Lender. Under the agency's Preferred Lender program, Greylock can approve qualifying SBA loans with no additional reviews by government underwriters. In 2005, the...