Ventura County Credit Union ranked largest SBA lender in SBA lender

VCCU ranked as the largest SBA lender in Ventura County

Ventura County Credit Union (VCCU), a not-for-profit financial institution, has been ranked as the largest U.S. Small Business Administration (SBA) lending credit union in Ventura County, as well as the second highest ranked credit union in Los Angeles.

The SBA is an organization that makes final credit and eligibility decisions regarding small business loans. According to the Los Angeles District Office SBA Lender Ranking Report — in the second quarter of 2017 — VCCU was ranked 39 overall in SBA volume out of a total of 107 lenders. A total of 1,241 7(a) loans were distributed among all lenders in the Los Angeles District valuing at $662 million.

“This is a great achievement for us,” said Edmond Sahakian, VCCU’s Vice President of Business and Home Loan Services. “This speaks to our expertise as a financial institution by the volume and value of loans our credit union lends. We provide a high-quality lending process for our business community and assist them in meeting their professional goals and help them thrive.”

While many financial institutions work with the SBA to provide loans backed by the organization’s guarantee, the duration of the loan approval process can be significantly lengthier for non-preferred lenders. Approved financial institutions are given jurisdiction over final credit decisions and most loan servicing and liquidation responsibilities, enabling them to provide SBA-guaranteed loans with less oversight from the organization.

A community-chartered credit union, VCCU issues loans to businesses within the region. To apply for a SBA-guaranteed loan with VCCU, business owners should call 805-477-4000 or visit one of VCCU’s seven branch locations. For more information about VCCU and its lending services, please visit vccuonline.net or email us at [email protected].

ABOUT VENTURA COUNTY CREDIT UNION

Ventura County Credit Union was chartered in 1950. It is the largest credit union headquartered in Ventura County, with seven offices (and a new Oxnard branch on the way), more than 80,000 members and more than $800 million in total assets. VCCU offers a complete line of loans, federally insured savings, 24-hour electronic access services and more. Call 1-800-339-0496 or visit www.vccuonline.net for more information.

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