VENTURA COUNTY, Calif. — Ventura County Credit Union (VCCU) has been ranked as the largest U.S. Small Business Administration (SBA) lending credit union in Ventura County. VCCU finished 44th out of numerous lenders overall in Los Angeles and Santa Barbara Counties as well.
The SBA provides guarantees on loans that are made by select institutions that they have approved for the SBA’s lending programs. According to the Los Angeles District Office SBA Lender Ranking Report — in the fiscal end of 2017 — VCCU was ranked 44th overall in SBA volume out of a total of 132 lenders. A total of 2,948 SBA 7(a) loans were distributed among all lenders in the Los Angeles District for a total value of $1.4 billion.
With more than $3 million in loans, VCCU was also the highest lender of SBA 7a loans based in Ventura County in both volume and dollars. In comparison to fellow credit unions, VCCU finished second overall in the Los Angeles District in units to Kinecta FCU, but produced more dollars in loans.
“What a way to finish 2017,” said Edmond Sahakian, VCCU’s vice president of business and home loan services. “Although we are smaller in assets and distribution of offices than these larger credit unions, VCCU has been the catalyst for business growth in many communities, and we are on a successful path for 2018. VCCU’s SBA lending program continues to support the community and produces loans that are making a difference in the lives of our members.”