News Room
January 26, 2009
Redwood Credit Union Ranked 1st in SBA Lending
SBA Report Shows RCU is Leader in SBA Lending for Sonoma County
Santa Rosa, CA – Redwood Credit Union (RCU) was recently ranked the number one Small Business Administration (SBA) lender in Sonoma County, according to the SBA’s first fiscal quarter 2009 data, which calculates performance for the last calendar quarter of 2008.
“We are very happy to be ranked first among local SBA lenders, particularly since we just started SBA lending in 2008,” said RCU’s Michael Downey, Vice President of Business Services. “The SBA programs allow us to serve small businesses who might not otherwise qualify for traditional loans, so that they can build their businesses and prosper,” Downey added.
The Credit Union added SBA lending to their suite of small business services in April of 2008, becoming the first credit union in the North Bay to offer SBA lending, including 7(a) loans for real estate, working capital, and more; and 504 loans for commercial real estate and equipment. RCU’s Senior SBA Loan Officer, Jason Ehn, who has more than 10 years of SBA lending background, has been instrumental in growing RCU’s SBA lending program since it began last spring.
Redwood Credit Union is a not-for-profit financial cooperative offering full financial services for individuals and small businesses, including checking, deposit products, investment and insurance services, consumer and real estate loans, credit cards, auto purchasing, free home banking and bill pay, and a variety of online applications and convenience services including fee-free access to over 28,000 CO-OP ATMs nationwide. Additional small business services from RCU include cash management, payroll and merchant services.
RCU serves over 148,000 Members with $1.8 billion in assets and 15 branch locations from San Francisco to Point Arena. Anyone living, working or owning a small business in the 8 North Bay counties of Sonoma, Marin, Mendocino, Napa, San Francisco, Lake, Contra Costa, and Solano can join and benefit from RCU membership. For more information about Redwood Credit Union, please call 1 (800) 479-7928 or visit www.redwoodcu.org.
