BALTIMORE–Securityplus Federal Credit Union said it has been approved as a Small Business Administration (SBA) lender.
“This significant milestone enables Securityplus to offer SBA loans to small businesses, empowering and enabling local businesses to achieve their goals while contributing to the economic development of its communities,” the credit union said in a statement.
Securityplus noted it will now be able to offer the popular SBA (7)a loan program, which can be used for a variety of general business purposes, including working capital, debt refinancing and purchasing of equipment, machinery, furniture, fixtures, supplies, or materials.
‘Strategic Commitment’
“We made a strategic commitment to the financial health and empowerment of the communities we serve as part of our clear vision for the future and our 2023-2027 strategic roadmap,” said CEO Tricia Szurgot. “This includes investing in inclusive opportunities for Greater Baltimore businesses and employers as key contributors to the financial health of the local community and economy. Our commitment to partnering with local small businesses and nurturing the economic viability of the communities we serve by launching our SBA lending program is a significant step forward in realizing our vision toward a financially healthy Baltimore.
“We can now directly have a positive impact on the success and expansion of local businesses and the many individuals and families they serve,” she added.
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