Friday, March 18, 2016

Technology CU Finances $22.4 Million SBA 504 Loan

Technology Credit Union (San Jose, CA) announced on March 17 that the credit union has funded its largest Small Business Administration (SBA) 504 loan to date at $22.4 million.

The loan provided financing to assist a commercial tenant’s purchase of a 112,000 square-foot, multi-tenant office building located in Burlingame, California.

According to the press release, the $2 billion credit union has originated over $300 million in commercial loan commitments to more than 120 middle market businesses.

Read the press release.
Posted by at
Labels: ,

4 comments:

  1. AnonymousMarch 18, 2016 at 4:39 PM

    This cu is well managed and capable.
    They could do a lot more small business lending, but are restricted due to the regulatory cap.
    They saw this coming and tried to convert charter and exchange the tax exemption for more business loans and access to capital.
    But, NCUA and others hijacked the charter vote by making it easy for interlopers to obstruct and distribute false and misleading information to members.
    Probably California league, CUNA and some cu vendors.
    Now, the cu will have to deal with the cap.
    Stupid and unnecessary..
    Self interest gets in the way of free commerce.
    Congress, the cu trade groups BFF.
    Until they're not.

    ReplyDelete
    Replies
    1. AnonymousMarch 19, 2016 at 11:17 AM

      Good point!
      I remember the interlopers saying the credit union was not near the cap so the charter change was just greed.
      Liars for self interest.
      So Dykstra can keep going to member financed trips around the world on "credit union" business.

      Delete
    2. AnonymousMarch 21, 2016 at 1:29 PM

      But wait, credit union members don't own their credit union, so how could they have prevented the charter conversion? LOL, your hypocrisy is laughable.

      Delete
    3. AnonymousMarch 22, 2016 at 5:58 PM

      Own?
      Define own in this case.

      Delete

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.