SWBC Also Offers
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FACT: |
60% of the nation’s workforce is employed by small businesses. |
FACT: |
75% of all new jobs are created by small businesses. |
FACT: |
Small businesses account for 40–50% of revenue generated nationwide. |
SWBC, together with Member Business Lending (MBL), now offers a way for credit unions to make an unprecedented impact on their community by providing small businesses with much-needed capital and competitively priced deposit accounts and services. |
- SBA loans are powerful anchor products that provide capital to fund small business cash-flow needs, equipment, vehicles, debt refinance, and real estate needs. Unlike traditional nonguaranteed business loans or unsecured lines of credit, SBA loans are guaranteed up to 90% by the federal government. These are competitively-priced, variable-rate loans with longer maturity terms which lower the monthly payment and cash flow needs for the small business owner by about 30%.
They are highly profitable, and the guaranteed portion does not count towards the business lending cap as established by the NCUA. With our program, you can set up quickly without hiring a team of professionals and keep administrative expenses down since expenses are shared among all participants.
- Participation loans provide an additional revenue source when you participate with other credit unions in sourcing and/or funding of commercial real estate loans.
- Business loan referrals allow you the ability to refer loans into the program that do not fit your business lending criteria or you cannot fund. This allows you to serve your members needs and generate a new source of revenues.
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- Business account forms, procedures, and training
- Cash management solutions
- Merchant card processing, as well as credit and access cards
- Remote deposit capture technology
- Payroll services
- Commercial and personal lines insurance
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- 25% of your membership typically will have an interest in a small business and, therefore, are also likely to need funding, business accounts, and services.
- We can close loans for your business members in as little as five to ten days.
- It provides an opportunity to add highly profitable, highly liquid loans to your portfolio, as well as low-cost business deposits.
- Our proprietary scoring model provides loans with significantly lower default and charge-off rates.
- Our turnkey program provides training, loan processing and closing support, as well as all government reporting deliverables.
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MBL is the nation’s leading CUSO dedicated to providing comprehensive business lending training, services and resources to credit unions. By pooling resources and sharing costs, we help credit unions affordably optimize the quality and efficiency of the business lending process and maximize ROA without draining staff and other resources. Currently owned by 30 institutions, MBL’s combined SBA loan volumes rank fourth nationally among all SBA lenders and include 11 out of the top 15 credit union SBA lenders in the country. |