SCU Loans Creates Jobs, Benefits Local Economy
Scott Credit Union’s Commercial Banking team is focused on helping small businesses create jobs and thrive in the local economy. That focus recently resulted in SCU being named the top credit union SBA lender in Eastern Missouri for the fifth straight year.
The award was presented recently by the St. Louis District Office of the U.S. Small Business Administration during its Small Business Week annual awards celebration.
“Since we began assisting small businesses with SBA loans in 2014, Scott Credit union has granted access to over $13 million in capital, which helped retain 133 jobs and create over 200 jobs in our local communities in both Illinois and Missouri,” said SCU Vice President of SBA Lending Chris Davis. “SBA lending has a significant impact on the communities we serve by allowing businesses access to capital needed to start, continue, or expand operations.”
Scott Credit Union has also been a top credit union SBA lender in Illinois for several years.
“We are really honored to have won the award this year,” Davis said. “But, for us, it is really about helping small businesses grow with the funding needed that they may not be able to attain through traditional commercial lending.”
In 2018 alone, Scott Credit Union helped local businesses retain 67 jobs and create another 101 new jobs with nearly $6 million in SBA loans, Davis added.
The local SBA staff recognizes small business as well as lenders during Small Business Week, which includes a full week of activities to celebrate the achievements of small business owners and the organizations that support them.
Scott Credit Union offers SBA loans, commercial real estate loans, business vehicle loans, capital improvement loans, business lines of credit, equipment loans and working capital lines.
SCU also offers business deposit accounts and a business credit card with rewards and no annual fee, Davis added.