The $1.8 billion Technology Credit Union now leads California credit unions in the volume of 7(a) and 504 loans backed by the Small Business Administration, according to the credit union.
The 71,000 member, San Jose-based credit union had booked $33 million in commercial real estate, construction and SBA backed loans as of Sept. 30 of this year, the credit union said.
The $33 million in loans included a $5 million SBA 7(a) loan to support the purchase of a hospitality property in Milpitas, a $15 million construction loan for a 60-unit condominium development in Santa Clara, and a $13 million CRE acquisition and renovation loan for a multi-tenant office building in San Francisco, Tech said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
