Truliant #1 in SBA Origination Loans Among All Credit Unions

WINSTON-SALEM, N.C. (October 7, 2024) – According to the Small Business Administration (SBA) Lender Report, Truliant Federal Credit Union is now the #1 originator in the nation of SBA loans for credit unions.

Among all SBA lending institutions, Truliant stands at #55 with $104 million in SBA 7(a) approved loans for the 2024 fiscal year, which ended in September. The average loan that Truliant provided was $1.5 million. The 7(a) loan program is the SBA's primary business loan program for providing financial assistance to small businesses.

“This is a wonderful confirmation of Truliant’s SBA strategy,” said Don Jackson, senior vice president of SBA lending at Truliant. “Since the beginning of the year, we have grown our SBA team by welcoming numerous new members, including a national team of dedicated business development officers with extensive experience structuring SBA loans for small businesses.”

Since joining Truliant in 2020, Jackson, who leads the SBA team, which is based in Charlotte, has focused on national production, emphasizing controlled growth to maintain quality service.

“All of our key SBA pieces are now in place for Truliant to have even better results in the SBA lending space. With the SBA acknowledging that Truliant is the #1 originator nationally of SBA loans among credit unions, it further confirms our strategy to serve small businesses and their financial needs,” Jackson said.

Credit unions are an important source of SBA loans, which offer lower down payments and longer payment terms than traditional loans. Truliant’s SBA team guides business owners through the borrowing process, structuring customized loans to meet their needs. The team supports small business owners and aspiring entrepreneurs through owner-occupied commercial real estate lending, business acquisitions, and partner buyouts up to $5 million.

Paul Ledin, the director of data and analytics at America’s Credit Unions, the industry’s top trade group, said that two other credit unions—America First Credit Union and Mountain America Credit Union—have been in the top 100 among financial institutions in recent years.

About Truliant Federal Credit Union
Truliant is a mission-driven, not-for-profit financial institution that improves lives by providing great service and straightforward financial solutions. Truliant was chartered in 1952 and now serves 354,000+ members. Truliant has more than 35 Member Financial Centers in North Carolina, South Carolina and Virginia.

 

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Contact: Heath Combs 
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(o) 336-293-2054 (c) 336-442-5736