MBL/Commercial Loans

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Biz Lending & Insurance Center, Inc. (BLIC) is all about helping your credit union find, review, support and close more quality commercial real estate and business loans. We have partnered with the NJCUL Services Corporation to bring you njBIZloan Connection.

njBIZloan Connection is an exclusive program for member credit unions of the New Jersey Credit Union League.

There are three different solutions:

 

Referral Credit Union (RCU)

A turnkey solution that allows NJCUL credit unions to refer business loans to a Lead Lender Credit Union. Here are some benefits:

    • Generate non-interest income, based on the amount funded
    • No portfolio risk
    • Access to new deposits opportunities
    • Commercial/Member Business Services Website – Credit union branded online presence that serves as a marketing tool to process referrals to the program. This turnkey solution includes design, maintenance and hosting
    • Dedicated Phone Number to a Commercial Lending Resource Center – A line of support to handle inbound calls from employees, members and prospects and act as the credit union relationship manager
    • Commercial Lending Resource Center Support – The Resource Center will support the application stage, prescreen and facilitation of the referral to a lead lender credit union
    • Very low cost entry fee

 

Lead Lender Credit Union (LCU)

Solution for NJCUL credit unions that would like to accept referred loans from outside their own program, thus making the Lead Lender responsible for completing the underwriting process and closing the business/commercial loan. Here are some benefits of a Lead Lender:

    • An alternative origination source for loan volume
    • Earn fee revenue through origination and servicing fees
    • Maintain control of the underwriting and funding decisions by using current underwriting processes and servicing sources
    • Opt to portfolio all of the loan or sell a portion to njBIZloan Connection participating credit unions
    • Dedicated Phone Number to a Commercial Lending Resource Center – A line of support to handle inbound calls from employees, members and prospects and act as the credit union relationship manager

 

Participation Credit Union (PCU)

A solution for credit unions that would like to buy or sell commercial real estate, auto, mortgage, credit card, and other types of loans through njBIZloan Connection’s participation services. PCU Benefits:

    • Participations are a win-win for all parties
    • Referring credit unions add loans to their books
    • Lead Lender earns points and servicing revenue
    • njBIZloan Connection partnership strengthens

    Let one of our specialists provide a free portfolio review and generate a proposal for adding loans, redistributing loan exposure, or lightening up the credit union’s portfolio. For additional details and to arrange a presentation please click here.