Subjects: SLS, SBS
Michigan Business Connection, a Michigan MBL CUSO, Hits $1 Billion Dollar Milestone
ANN ARBOR, Mich., Aug. 4, 2020 /PRNewswire/ -- Michigan Business Connection (MBC) is excited to announce that they are now managing credit union MBL portfolios exceeding $1 Billion dollars. MBC is the first single State focused MBL CUSO to achieve this milestone.
While there are several measures of success that Michigan Business Connection uses, the company's loan portfolio growth demonstrates the impact a Credit Union Service Organization (CUSO) like MBC can provide to its credit union partners, businesses and the local economy. Assets under management also is important as it reflects the level of trust that credit unions have in the CUSO to help manage the risk of their portfolios. MBC's portfolio servicing support includes all aspects of billings, accounting, monitoring, 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 that range from financing more than 1,000 SBA PPP loans, traditional small business and SBA financing and nearly all community based commercial real estate types.
When asked, Bill Beardsley President/CEO of MBC reflects back on MBC's 16-year history stating, "I couldn't be prouder of the work we do for our credit union partners and our business borrowers. Now more than ever, during the unprecedented times we are experiencing this milestone has tremendous meaning. It demonstrates just how strong the cooperative movement's commitment to people helping people is." Beardsley goes onto say, "Since our inception, MBC has been committed to building a team of experts that can not only provide expertise and support that enables credit unions to lend to businesses in their local markets, but also demonstrates the power of collaboration."
MBC is one of the leading commercial lending CUSOs in the United States. With a culture that embodies being positively responsive and a workforce that is comprised of 45 employees MBC work diligently to provide services that range from back-end processing, credit risk and assessment services, hot topic training and customizable front-end business development and loan origination support.
About Michigan Business Connection, LLC
Since 2004, Michigan Business Connection (MBC) has supported the State of Michigan's small and medium-sized businesses and real estate investors by underwriting and servicing commercial loans for financial institutions statewide. They primarily serve Michigan credit unions and their members. MBC is a credit union service organization (CUSO) leveraging a collaborative effort of more than two dozen affiliated credit unions. They now help manage a portfolio exceeding one billion dollars in business loans for these financial institutions.
Media Contact:
Jessica Richardson-Isenegger, Infusion Group
Phone: 734.552.5192
Email: [email protected]
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SOURCE Michigan Business Connection
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