SBA names MCCU as a leading SBA 7(a) lender according to small business loan volume in 2013
PRLog - Feb. 4, 2014 - HOUSTON -- In small business lending rankings recently released by the United States Small Business Administration, Members Choice Credit Union places 21st among top Region VI 7(a) lenders for the 2013 fiscal year. Encompassing Arkansas, Louisiana, New Mexico, Oklahoma, and Texas, Region VI is one of the larger of the SBA's ten regions, with over 364 lenders in total, including only 19 credit unions.
This year, the Small Business Administration ranked lenders according to loan volume in dollars and the total number of loans approved within the categories of 7(a) and 504 small business loans. Members Choice Credit Union was proud to place 21st in the 7(a) loan volume category after lending nearly $24,000,000 to small businesses in the Greater Houston area during the 2013 fiscal year. In total, the small business lenders in SBA Region VI provided more that $2.6 billion dollars in SBA loans, which was a 15.5% increase over the previous fiscal year.
“I applaud the success of Steve Gillman, CEO, Bruce Hurta, Business Lending Manager, and the entire lending team at Members Choice Credit Union for a great year in providing assistance to our small businesses,” said Yolanda Garcia Olivarez, Regional Administrator. “Now more than ever, providing access to capital is one of the most critical things we do as an Agency. Since President Obama took office, SBA has supported more than $126 billion in lending to more than 260,000 small businesses nationwide who are able to create good middle class jobs and fortify our nation’s economy. In the Houston District, lending is up 22% in part because of the dedication and commitment of the team at Members Choice CU.”
MCCU's position on the Small Business Administration Region VI rankings comes on the coattails of the announcement of their placement at #7 among rankings of the top lending institutions in the SBA Houston District. Moving up two spots from last year, Members Choice was proud to find itself as a leader in the 32 county district that includes over 100 total small business lenders.
History of Small Business Lending at MCCU
Members Choice Credit Union has been offering small business loans since 2009, and has awarded over $60 million in business loans to small business owners in a variety of different industries. In 2011, Members Choice received the distinction as a Preferred Lender from the U.S. Small Business Administration, a designation that is granted to only eight other lending institutions in Texas. As an SBA Preferred Lender, Members Choice Credit Union has the authority to make lending decisions that streamline the process of applying for and receiving a small business loan. This allows MCCU to provide greater financial assistance to the community of small business owners in the Houston area. The Unites States Small Business Administration ranked Members Choice as the #7 SBA lender in the Houston District and the #21 7(a) small business lender in Region VI with nearly $24,000,000 in small business loans awarded during the 2013 fiscal year.
About Members Choice Credit Union
Members Choice Credit Union is a not-for-profit financial institution established in 1941, and proudly serves residents and business owners in West Harris County, Katy, Cy-Fair, and more than 200 Partner Companies. Members Choice has more than 40,000 members and $457 million in assets. As a U.S. Small Business Administration Preferred Lender, MCCU is proud to provide a variety of services for small business owners in the Houston community. To learn more about how Members Choice Credit Union can help you with all of your checking and savings needs, auto and personal loans, credit cards, and home equity loans, visit one of our convenient locations or give us a call today.
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Members Choice CU Ranks in Top 25 Among U.S. Small Business Administration Region VI Lenders
February 04, 2014 at 15:10 PM EST
