At $190.7 million loaned to facilitate 304 SBA 7 (a) loans for the year ended Sept. 30, UPS Capital Business Credit, a unit of UPS Capital, is among the SBA's top 15 lenders. That number is a 22% increase from 2005 for the financial arm of UPS.
"UPS is committed to helping small businesses succeed and grow and that means we strive to help them not only move their goods and information but also secure the financing they need," said Bob Bernabucci, president, UPS Capital.
Companies such as TrueWave, LLC, a producer of high-end audio equipment under the brand name of Wadia, are turning to UPS for financing rather than a traditional bank. "After reaching out to several traditional banks for lending options, we decided to go with UPS Capital because they offered a complete solution for our business," said John Schaffer, president of Wadia.
A key reason UPS Capital has been able to achieve double-digit SBA lending growth has been its participation in the SBA's Preferred Lender Program, which slashes the amount of time and effort it takes for business customers to secure SBA loans.
In 2005, UPS Capital Business Credit became a PLP participant in all of the SBA's 75 districts.
UPS Capital Business Credit also is a leading lender in the government-guaranteed loan program of the Export-Import Bank of the U.S.
Interested in information related to this topic? Subscribe to our weekly Value-chain eNewsletter.
