cuBIZloan
Expand your credit union’s loan opportunities through cuBIZloan, a partnership between CrossState Solutions and Biz Lending & Insurance Center, Inc. cuBizLoan has a strong network of New Jersey and Pennsylvania credit unions working together to drive member business loan opportunities and promote growth.
MEMBER BUSINESS LOAN PRODUCTS
- Commercial Real Estate/Multi-Family/Industrial Real Estate
- Refinance/Acquisitions/Improvements
- Equipment
- Commercial Vehicles
- Working Capital
- Merchant Cash Advance
- SBA and USDA guaranteed programs
- Commercial Green Loans (coming soon)
BUSINESS LENDING SOLUTIONS
A solution for small to mid-size credit unions that do not have an MBL department to offer business and commercial loans on a referral basis. cuBIZloan provides a structured method for credit unions to refer loan requests to lead lenders and generate non-interest income. No expertise required.
- cuBIZloan provides the RCU a co-branded online business loan request form to process referrals to cuBIZloan.com.
- The system will pre-screen the referral and a Loan Specialist will source it to a lending partner.
- cuBIZloan will serve as a line of support to manage inbound calls and function as a Business Relationship Manager.
- RCU pays cuBIZloan a low one-time implementation fee and there are no monthly fees. RCU will receive a success fee on funded referrals.
Lead lenders will be underwriting, funding, and servicing loan opportunities generated from the network. cuBIZloan pre-screens borrowers to determine if they meet the LCU policy, procedures, and guidelines. An LCU can also refer loans they do not want to portfolio to the network.
- cuBIZloan facilitates the process for obtaining business and commercial loan opportunities for LCU.
- cuBIZloan receives loan requests for screening and initial preview with potential lender(s). If accepted, the borrower will then fill out the LCU loan application for underwriting and potential funding.
- cuBIZloan assists with follow up communication and closing as needed. LCU pays cuBIZloan a one-time success fee payment of the total amount funded, or credit line granted.
cuBIZloan credit union partners always get first option on participation opportunities generated from the network.
- cuBIZloan is the liaison and service provider for PCU to facilitate the process for buying or selling a participation interest in member business/commercial loans.
- PCU may also request assistance in credit evaluations, business loan underwriting, processing, and servicing and loan participation brokerage services.
- Participation fees are priced per offer.
To learn more about the cuBIZloan program, complete the “Get in Touch” form.
