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CCU Business Capital LLC and Lending Solutions, Inc. form a strategic alliance with a complete Commercial Lending/Services Program and cal center!
Miramar, Florida, November 28 2005 – CU Business Capital LLC (CUBC), a Credit Union Service Organization located in Miramar, Florida and Lending Solutions Inc. (LSI) of Elgin, Illinois, have entered into a strategic alliance to provide a complete Commercial Lending /Services program and Call Center for CUBC credit union clients throughout the United States.
Bert Bryan, President of CUBC, believes this is the first of its kind service where credit union commercial business members can just pick up the phone to submit a loan/lease application for
- Commercial Vehicles
- Equipment
- Commercial Mortgages
- SBA Loan
- Working Capital Loans
- Lines of Credit
"Small business owners are busy during the day running their businesses. They want fast and easy financing access early in the AM or in the evening. This alliance offers credit unions the opportunity to have trained commercial loan representatives taking applications without stressing the credit unions current lending systems, branches or phone center environment,” says Murray Halperin VP of Sales & Marketing.
Mr. Bryan calls this movement towards Commercial Services an “Irreversible Trend” for all credit unions. In the past, credit unions would visit a business or organization and offer SEG services without the ability to provide competitive loan products, cash management or deposit services for the company. Now with LSI and CUBC, any credit union can quickly and easily offer Business Members a very competitive menu of commercial loan/lease products along with corporate checking, deposit services, cash management, corporate credit/debit cards and much more.
What makes this joint venture so simplistic for the credit union is CUBC’s expertise and systems to provide a turnkey program. CUBC helps the credit union develop its NCUA Policies, filings with SBA and guidelines for checking accounts, deposit services and complete cash management assistance. CUBC also scores all commercial loan applications based on the credit unions buying criteria.
According to Lisa Reed, Vice President of Cash Management Services for CUBC, only 30-40 % of businesses need financing on a regular basis; but 100% of all organizations use deposits services and cash management. By providing a complete menu of services for the corporate account, Mr. Bryan believes that credit unions’ consumer business will also flourish.
CUBC/LSI now provide a comprehensive system available for all credit unions that are considering Business Lending/Services programs For additional information, give us a call at 800-571-9842.
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