Community Bank Clients Fund more than $500 Million in SBA and USDA Loans in 2016
CHICAGO, March 1, 2017 — Windsor Advantage, LLC, a leading provider of commercial loan servicing to banks and credit unions, assisted a record number of small businesses in 2016. Windsor clients funded more than $510 million in Small Business Administration (SBA) 7(a) and United States Department of Agriculture (USDA) business loans.
“2016 was another record year of loan volume for Windsor and its community bank clients,” said Shawn Andrews, Windsor’s managing director. “More importantly, nearly 1,000 small businesses in 49 states were provided with the low-cost and long-term funding necessary for sustainability and job creation.”
Nearly 700 of these loans were through the SBA’s and USDA Small Loan Program. The Small Loan Program provides for loans of $350,000 or less to businesses most in need of SBA financing. In total, Windsor clients funded more than $160 million of Small Loans in 2016 making a significant impact in communities across 49 states. Over 16,000 jobs in 70 different industries have been either created or maintained through these loans. As of December 31, 2016, Windsor’s Small Loan Program servicing portfolio exceeded $240 million.
In addition to SBA and USDA loan s, Windsor clients funded more than $80 million in USDA loans across 17 states resulting in more than 2,100 jobs being created or maintained in rural communities throughout the country. As of December 31, 2016, Windsor’s USDA loan servicing portfolio exceeded $150 million.
Since 2010, Windsor has closed more than $1.2 billion in SBA and USDA loans through its outsourced SBA and USDA department solution. Other 2016 milestones include:
- Windsor processed nearly 1,000 loans for over $510 million to borrowers in 49 states.
- Diligent SBA compliance practices earned Windsor its seventh year of SOC 1 Type 2 certification.
- Windsor now employs 27 experienced professionals. More strategic hires are planned in 2017.
About Windsor Advantage, LLC
Windsor Advantage provides a comprehensive outsourced 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 150 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 Charleston, SC.
Learn more about SBA and USDA loan opportunities by visiting Windsor Advantage.
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