Firm Closes $236 Million in SBA 7(a) and USDA Loans for Community Banks in 2015
CHICAGO, Feb. 25, 2016 — Windsor Advantage, LLC, a leading provider of services to banks and credit unions, assisted a record number of small businesses in 2015. Windsor bank clients funded $236 million in Small Business Administration (SBA) 7(a) program loans in 2015.
“We’re proud of the fact that we assisted a record number of small businesses across 44 states last year,” said Shawn Andrews, managing director for Windsor. “With our inaugural SBA and USDA loan market outlook report, we hope to share that wide perspective of the market with clients and the small business community.”
Since 2010, Windsor closed more than $625 million in SBA and USDA loan s through its outsourced SBA and USDA department solution. Other 2015 milestones include:
- Windsor closed 442 loans for over $236.6 million to borrowers in 44 states.
- Over 280 of the loans were for less than $350 thousand, helping provide capital to businesses in communities most in need of SBA financing.
- As of December 31st, 2015, Windsor serviced nearly $575 million in SBA and USDA loans for more than 60 lenders across 26 states.
- Windsor is subject to examination by the Federal banking agencies under the Bank Service Company Act and was examined in November and December of 2015.
- Diligent SBA compliance practices earned Windsor its sixth year of SOC 1 Type 2 certification.
- Windsor now employs 22 experienced professionals. More strategic hires are planned in 2016.
There were more than 63,000 SBA 7(a) and USDA loan approvals totaling $23.8 billion in FY 2015. This 23% increase in the total dollar volume of loans set a new record for the SBA and represents the third consecutive year of growth for the 7(a) program. While overall growth in the US economy and SBA and USDA program changes may be responsible for driving some of the increasing volume trend, Windsor believes much of this sustained growth is due to the increasing sophistication of SBA and USDA lenders.
On February 3rd, Windsor announced the release of the firm’s inaugural SBA and USDA loan market outlook report. The full report is available at WindsorAdvantage.com/2016-sba-loan-market-outlook.
About Windsor Advantage, LLC
Windsor Advantage offers banks and credit unions an outsourced SBA and USDA department focused on the development and implementation of innovative lending strategies.
Windsor provides a comprehensive SBA and USDA loan department to lenders nationwide. Services include strategy, prequalification, loan structuring, application processing, loan closing, secondary market sales, loan servicing and intensive servicing, SBA compliance and regulatory exam support. Windsor also provides continuing training and technical assistance to lenders at no cost.
With more than 100 years of collective SBA and USDA lending experience, cutting edge systems and rigid controls, Windsor Advantage is uniquely qualified to support its clients to develop and implement a thoughtful and profitable SBA 7(a) and USDA loan program. Windsor Advantage is based in Chicago, Illinois, with offices in Indianapolis, Los Angeles and Boston. For more information, call 312-724-6425 or visit WindsorAdvantage.com.