What does a credit union need to do to make an SBA loan?

Credit unions must execute a Lender Service Provider Agreement with CBL. This agreement assures the SBA that loan servicing and monitoring tasks will be managed by experienced personnel. In addition to the agreement, the credit union must provide several documents including: a recent financial statement, a list of directors, and a copy of their Member Business Lending policy. CBL will help manage the SBA certification process with the credit union.

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