VACAVILLE, Calif. — Although relatively new to business lending, Travis Credit Union has still managed to earn the Small Business Administration's Preferred Lender status.
The $1.7 billion credit union will now be able to process SBA loans much faster including a one-day turnaround on applications. According to SBA, financial institutions must show a proficiency in processing and servicing SBA-guaranteed loans in order to earn the Preferred Lender status.
Dave Purcell, vice president of business services and real estate lending at Travis CU, said the new designation will go a long way in improving service to business members.
Travis CU rolled out its business lending program in October 2004.
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