ANN ARBOR, Mich., Aug 4, 2020 / PRNewswire / – Michigan Business Connection (MBC) is delighted to announce that it now manages MBL portfolios of credit unions in excess of $ 1 billion. MBC is the first state-focused CUSO MBL to achieve this milestone.
While there are several measures of success used by Michigan Business Connection, the growth of the company’s loan portfolio demonstrates the impact that a Credit Union Service Organization (CUSO) like MBC can provide to its credit union partners. , businesses and the local economy. Assets under management are also important because it reflects the level of confidence that credit unions have in CUSO to help manage the risk of their portfolios. MBC’s portfolio management support includes all aspects of invoicing, accounting, tracking and collections. The portfolio includes credit unions and their borrowers from 51 counties across Michigan.
MBC embodies the cooperative spirit of the credit union movement with several lending success stories ranging from financing over 1,000 SBA PPP loans, to traditional small business and SBA financing and almost all types of community commercial real estate.
When asked, Bill Beardsley President/ MBC CEO looks back on MBC’s 16-year history by saying, âI couldn’t be more proud of the work we do for our credit union partners and commercial borrowers. Now more than ever, during the unprecedented time in which we are living this milestone. has enormous significance. It shows how strong the commitment of the cooperative movement to people who help people is. Beardsley continues, âSince its inception, MBC has been committed to building a team of experts who can not only provide expertise and support for credit unions to lend to businesses in their local markets, but also demonstrate the power to the collaboration.
MBC is one of the leading CUSO of commercial loans in United States. With a culture that embodies positive responsiveness and a workforce of 45 employees, MBC works diligently to provide services ranging from background processing, credit risk and assessment services, training on hot topics and customizable front-end business development and loan issuance. Support.
About Michigan Business Connection, LLC
Since 2004, Michigan Business Connection (MBC) has supported the Michigan State small and medium-sized businesses and real estate investors by underwriting and managing commercial loans for financial institutions across the state. They mainly serve Michigan credit unions and their members. MBC is a credit union service organization (CUSO) based on a collaborative effort of more than two dozen affiliated credit unions. They now participate in the management of a portfolio exceeding a billion dollars in business loans for these financial institutions.
Jessica Richardson-Isenegger, Infusion group
E-mail: [emailÂ protected]
SOURCE Michigan Business Connection