The $3 billion Randolph-Brooks Federal Credit Union has beennamed the Small Business Administration's top 7(a) program lenderin the small lending category.
|The Live Oak, Texas-based credit union began offering SBA loansin 2006. In 2008, RBFCU made more than 200 SBA loans, according tothe agency. While the SBA does not have a credit union lender ofthe year award, RBFCU will be the only credit union being honoredat next week's National Small Business Week's recognitionactivities, said Carol Chastang, an SBA spokeswoman.
|The SBA said it is recognizing financial institutions "for acombination of factors, most saliently financial assistanceprovided, whether in the form of loans, investments, surety bonds,and their continued commitment to and support for small businessduring a time of economic upheaval and credit shortages."
|Kenan Pankau, business services lending manager at RBFCU, willbe in Washington next week to accept the SBA award.
|Compass Bank in Birmingham, Ala. has been named the SBA's top7(a) program lender in the large lender category.
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