ESL Federal Credit Union recently was included on a list of the 50 most active Small Business Administration lenders in the U.S.
ESL ranked No. 41 on the list, placing it among the nation’s largest banks and financial institutions. SBA calculated this list based on the volume of 7(a) loans secured throughout its fiscal year, which starts in October. ESL secured 88 loan applications for $5.17 million as of the end of the first half of this fiscal year.
“We owe a great deal of gratitude to our business banking customers and the ESL Business Banking team, who worked collaboratively to make these loans possible,” said Keith Cleary, senior vice president and director of Business Banking. “Securing SBA loans for our customers has allowed us to provide the funding they need to help bring their visions to life for their small businesses. Whether it’s purchasing new equipment, renovating their facilities or growing their staff, working with the SBA has been instrumental in making these loans possible and has contributed to building a healthier business community in Greater Rochester.”
ESL was named Rochester’s No. 1 small business banking lender in October 2017 based on the volume of loans it secured in the fiscal year ending Sept. 30, 2017, totaling 127 SBA loans.
After first appearing on the Rochester SBA lender list in 2013, ESL worked to form partnerships with key community organizations, such as Score and Pathstone, which provide small businesses in Greater Rochester with the guidance and knowledge they need to build and grow their firms. As a participant in SBA’s Preferred Lender program, ESL demonstrated proficiency in processing and servicing SBA guaranteed loans, which benefits customers by simplifying the loan application process.
Visit esl.org for information.