Set Up A Business Loan Program
Policy development
MBFS works on-site with credit union management to develop a business loan policy that aligns with the credit union’s credit culture, strategic goals, and the NCUA regulatory guidance.
Training
MBFS conducts training to credit unions Board of Directors, senior management on a wide variety of topics through webinars and regional in-person training.
Business Loan Program Strategic Development
MBFS offers consulting engagements for credit unions on developing products, processes, procedures, sales strategies, and risk management strategies customized for the credit union.
Credit Services
MBFS underwrites new loan requests for a wide variety of traditional loans. The depth of the analysis is based on the size of the loan request, the complexity of the borrower, and whether the loan qualifies as a commercial loan or member business loan under NCUA definitions.
For loans requiring an annual review, MBFS monitors the annual review process and requests updated financials from members. MBFS then prepares the annual reviews fro on behalf of our credit union partners. The depth of the annual review is based on the size and complexity of the lending relationship.
The newest offering of MBFS is our enhanced portfolio monitoring service. The service monitors borrowers for material changes outside of the collection of financial through business and personal credit reports, site visits, line of credit activity, and real estate taxes. In addition, MBFS compiles portfolio level reports to watch for concentrations, trends, and market conditions that may impact credit quality.
Loan Origination & Documentation
MBFS works with our credit union partners in the loan closing process in satisfying conditions of closing such as appraisals, title insurance, environments reports, etc… The MBFS staff works closely with the credit union staff to ensure a smooth closing process and also monitors exception items. MBFS utilizes LaserPro in the creation of our business loan documents.
Loan Servicing
MBFS offers in-house business loan servicing to our client credit unions. A challenge in the industry is that many core systems for credit unions have not been designed to support business loans, business members, or participation loans. To assist in the member experience with their credit union, MBFS has developed interfaces with core systems to export the business loan portfolio information on a daily basis along with an import function so members can make payments through the teller line or home banking systems.
SBA Loans
MBFS has partnered with a third party to combine the processing and closing power of two of the nation’s largest SBA lenders to bring speed and efficiency along with peace of mind to the SBA 7(a) and 504 process.
