New concierge service to help credit unions under $250M make business loans
TREVOSE, PA (June 14, 2022) — Member Business Financial Services (MBFS), the business lending CUSO formed in 2008 that now services more than $2 billion in business loans and has partnered with over 80 credit unions nationwide, recently expanded its offerings with Concierge Relationship Manager Services.
Through the Concierge Service, MBFS can now offer the services of a business loan originator on an as needed basis. The solution is an ideal fit for credit unions that do not have the size or demand to justify a full-time business loan originator but would like to offer business loans to their membership.
“MBFS is focused on ensuring that small and medium sized credit unions can offer small business loans at a reasonable cost structure. Every credit union has members with business loans needs. Under this structure, credit unions and members have access to an experienced staff member to help walk them through the loan process. As our industry matures, it is important that credit unions and CUSOs continue to offer solutions for the local small business community that wants access to a credit union,” says Mark Ritter, CEO of MBFS.
The Concierge Service will connect interested small business prospects directly with an experienced MBFS staff member. Discussions are held via telephone or video conference call. Credit unions also have the option of MBFS staff working directly with credit union staff to facilitate the loan. While the credit union will be required to make a credit decision on the loan, MBFS staff members can work with the loan prospect throughout the entire process, from initial conversation to underwriting and closing.
Interested credit unions should contact info@mbfs.org for next steps in enrolling in the Concierge Service.
About Member Business Financial Services, LLC (MBFS)
MBFS assists credit unions in procuring, underwriting, processing, and funding business loans within their markets, as well as nationwide. The CUSO also provides individualized servicing options tailored to each of the credit unions it serves. Headquartered in Bucks County, PA, MBFS’ remote workforce of experienced lending professionals currently serves over 100 credit unions with a combined servicing portfolio in excess of $2.5 billion. The CUSO is well positioned to continue the expansion of its member business lending, participation, and servicing success.
Learn more about MBFS, our lending programs, and our nationwide network of credit union partners by visiting www.MBFS.org or contacting us at info@mbfs.org.
