Liberty Bay Credit Union, based in Braintree, was recently designated a Preferred Lender by the US Small Business Administration (SBA).
The SBA, under the Preferred Lenders Program (PLP), delegates the final credit decision and most servicing responsibility to carefully selected PLP lenders.
Liberty Bay Credit Union has demonstrated a proficiency in processing and servicing SBA-guaranteed loans and earned Preferred Lender status based on the credit union’s record with the SBA, according to a press release.
Paul Gravellese, Vice President of Business Solutions for Liberty Bay Credit Union said “we are excited to be selected as a Preferred Lender. Financing business expansion strengthens our local economy and Liberty Bay Credit Union looks forward to providing assistance to the small business community with SBA-guaranteed loans.”
“We are honored to have attained Preferred Lenders Program status with the SBA, and are eager to maintain a strong relationship with the business community through this program," said Ed Lopes, President and CEO of Liberty Bay Credit Union.
Ed Lopes explains that “As one of the largest credit unions in Massachusetts, we have the financial strength, commercial lending talent and suite of business banking solutions to run your business more efficiently. And as a credit union, our earnings are returned to our members in the form of lower rates and
fees. That means that you will find Liberty Bay Credit Union a more economical alternative.”
Liberty Bay Credit Union serves the Greater Boston area with branches in Braintree, Boston, and Stoneham. With over 27,000 members it is one of the oldest and most established credit unions in New England.