SOUTH BEND, Ind.–Teachers Credit Union (TCU) has entered into a new partnership with the U.S.Small Business Administration (SBA), which has designated the credit union as an SBA Lender.
With its partnership with the SBA, TCU will be able to offer a broader selection of commercial loans toentrepreneurs and small business owners who want to start, grow, or expand their businesses.
As an SBA Lender, TCU said it will be able to increase its efficiency, creating better service for its members. A process that has historically taken weeks for each 7(a) loan will now be able to be accomplished in a day or two.
“We are very pleased to be able to broaden our commercial portfolio by partnering with the SBA,” said Dick Sauerman, vice president of commercial lending at TCU. “As an SBA lender, TCU will be able to provide our members with more efficient and comprehensive service, something on which ourorganization prides itself.”