Invest In Your Future
Customized Member Business Lending & Credit Administrative Services
We guide our clients through the new and complex world of business banking. By instituting a Member Business Lending program, credit unions can now offer a full range of business services to their members, providing them one stop shopping for all their banking needs while at the same time realizing a significant opportunity for growth in members, deposits, loans and related fee/interest income. Octant’s personnel have over 100 years combined experience in business lending and want to share that knowledge with those credit unions whose vision it is to build commercial loan and deposit growth. Contact us today at [email protected] for more information on beginning or expanding your current Member Business Lending program.
Octant Business Services will assist in both the planning and implementation of a Member Business Lending program. From the development of a credit policy that meets regulatory requirements to the establishment of complementary business services, Octant will support a total program implementation.
Octant will perform a comprehensive quantitative and qualitative analysis of each loan request applying time-tested credit underwriting techniques.
After each loan is approved, closed and funded, Octant will review all closing documents to ensure compliance with the approval memorandum/commitment letter and board the loan on its commercial loan accounting system.
Our Lending Programs
Create a Strategy That Works For YOU
We offer several service levels that allow selection of only those services that you need now. As your MBL portfolio grows, additional services can be added as necessary. Our fees are structured so that you only pay for what you need – nothing more.
All service levels include:
Program design and accompanying roll-out plan
Loan request underwriting and servicing
Regulatory compliant commercial lending policy
Standard loan accounting reports
Initial program training
Octant assists its clients by recommending the appropriate credit facility for each Member Business Loan. Whether it is a term loan for the purchase of equipment or the refinance of commercial real estate, Octant will identify, underwrite and recommend a loan structure that best protects the credit union and fullfills the borrowing requirements of its members.
Types of Loans
Commercial Real Estate
- Investment Property (Residential and Commercial)
- Owner Occupied
- Purchase of equipment, vehicles, business acquisition, debt consolidation
Government Loan Programs
- Business & Industry Program – Provides up to an 80% guaranty to lenders on rural business loans. Loan amounts usually begin at $750,000 and range to $10,000,000.
- New construction or major renovation of commercial or residential real estate.
Secured Line of Credit
- Working capital to businesses that experience fluctuations in cash flow due to the seasonality of their business or to bridge the financial gap between product sales and payment.
- The 504 Program – provides long-term fixed rate financing for the acquisition of real estate or machinery and equipment. Lender loans 50% of project cost while a Certified Development Company (CDC) lends up to 40% with the borrower contributing as little as 10% of project cost.
- 7(a) Program – Loan proceeds used for working capital, machinery and equipment, furniture and fixtures, land and building and leasehold improvements. Provides lender with up to an 85% guaranty
- Express Program – A low document government program that provides a 50% guaranty for loan amounts up to $350,000.