USDA loan servicing portfolio surpasses $150 million
CHICAGO, February 17th, 2017 — Windsor Advantage, LLC, a leading provider of outsourced loan servicing to banks and credit unions, significantly expanded its USDA loan initiative in 2016.
In 2016, Windsor clients funded more than $80 million in USDA loans. The USDA loans processed by Windsor have made a significant impact in 17 states. With the proceeds from these loans, more than 2,100 jobs have been created or maintained in rural communities across the country. As of December 31, 2016, Windsor’s USDA loan servicing portfolio exceeded $150 million.
“The USDA offers several loan programs providing critical capital to rural areas” noted Shawn Andrews, Managing Director of Windsor Advantage. “We are committed to supporting these programs in 2017 and beyond. This focus has allowed our clients to fund opportunities ranging from rural business loans to utility scale solar development. We expect this increase in USDA lending to continue in 2017 with our clients projecting more than $150 million in USDA loans, including a significant focus on the Rural Energy for America Program (REAP).”
REAP loans help increase American energy independence by expanding the private sector supply of renewable energy and decreasing the demand for energy through energy efficiency improvements. Over time, these investments can also help lower the cost of energy costs for small businesses and agricultural producers. Through Windsor, the REAP loans have been used to assist solar developers to build and operate utility scale solar projects in rural communities: “In my current position as a solar developer and as an alumni of the USDA, I understand the positive impact these loans can have on rural borrowers and communities. The longer terms available through the Rural Energy for America loans allows us to continue to assist rural communities, creating jobs and increasing US energy independence” noted David Thigpen, Director of Project Finance at Cypress Creek Renewables.
In addition to the REAP loans, Windsor supports various other USDA programs including the Business & Industry (B&I) program, the Farm Services Act (FSA) program and the Community Facilities (CF) program.
Learn more about USDA loan opportunities by contacting Windsor Advantage.
About Windsor Advantage, LLC
Windsor provides a comprehensive outsourced USDA and SBA loan department to lenders nationwide. With more than 150 years of collective SBA 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 USDA and SBA 7(a) loan program.
Since 2010, Windsor has processed more than $1.2 billion in government guaranteed loans and currently services a portfolio of more than $1 billion in loans for more than 60 banks across the US. Windsor Advantage is based in Chicago, Illinois, with offices in Indianapolis, Los Angeles and Charleston, SC. For more information, call 312-724-6425 or visit WindsorAdvantage.com.