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Michigan Credit Union League

CU Solutions Group, Rapid Advance in Partnership

CU Solutions Group is partnering with RapidAdvance to provide credit unions with flexible funding options for small business members.

In a joint statement, the companies said that the agreement enables credit unions to offer members access to financing that isn’t available through traditional lending products, or that fall outside the credit union’s lending guidelines.

“RapidAdvance presents a strong option for nontraditional business financing, and CU Solutions Group is pleased to be able to offer this unique funding opportunity to the credit union industry,” said David Adams, CEO of CU Solutions Group, an MCUL affiliate. “This program opens the doors for small business members, empowering credit unions to provide them with additional financing options and the ability to say ’yes’ to more loans.”

By leveraging a proprietary, technology-driven platform, RapidAdvance is able to analyze businesses outside of the historical metrics used by traditional lending institutions, providing capital to a wider array of small business, CUSG said.

“Credit unions understand that access to capital is a vital component to growing a successful small business,” said Mark Cerminaro, RapidAdvance’s chief revenue officer. “By working with CU Solutions Group and RapidAdvance, credit unions will be in a position to meet the needs of more members by offering options that are both alternative and complementary to their traditional lending products.”

To learn more, click on the RapidAdvance webpage at CU Solutions Group.

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2015-05-11 00:00:00