Mid-Atlantic FCU Funds First SBA Loan

GERMANTOWN, Md. -- Mid-Atlantic Federal Credit Union recently funded its first loan under the Small Business Administration's 7(a) loan program.

By Michelle A. Samaad | April 14, 2008 at 07:36 AM

GERMANTOWN, Md. — Mid-Atlantic Federal Credit Union recently funded its first loan under the Small Business Administration's 7(a) loan program.

The $200 million financial institution said it was the first credit union in the Washington metropolitan area to receive authorization to offer 7(a) loans.

"We've offered traditional commercial and business financing for years, but felt the SBA portion was necessary if we were to best serve the entire business community," said Frank Amantia, vice president of commercial and mortgage lending at MAFCU.

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MAFCU business services program also includes online business banking, merchant card services and remote deposit capture.

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