Midwest Capital Corporation Announces the Launch of its New SBA Loan Packaging Program.
(PRWeb) February 26, 2007 -- Midwest Capital Corporation assists community banks with developing an integrated strategy that combines marketing, loan origination and the secondary market sales for government guaranteed business loans. According to company president, Steven Young, "The SBA 7A loan program can help community banks expand their customer base by offering government guaranteed loans to qualified businesses which may often be overlooked by larger banks. We help community banks identify these opportunities in their own backyards. Properly structured loans will allow a bank to expand its market share, minimize risk, and boost profitability."
"Many community bankers recognize the benefits of SBA lending but see the process of qualifying borrowers, keeping abreast of changes in regulations and correctly preparing forms and documents for approval to be a challenge," adds Young. Dedicated SBA loan officers and loan processors are expensive. "Our program helps banks eliminate the long lead-time between starting an SBA lending department and generating sufficient earnings to support it."
Midwest Capital Corporation provides the back-office processing necessary to efficiently implement an integrated strategy of origination and subsequent secondary market sale of SBA guaranteed loans. Outsourcing with Midwest Capital Corporation allows a community bank minimal investment for personnel, training and infrastructure while generating immediate profits upon loan closings. The program helps smaller banks avoid devoting valuable resources to develop a similar program internally only to loose valuable employees to larger institutions.
In addition to providing marketing, origination ad packaging assistance, Midwest Capital Corporation facilitates the sale of these government guaranteed business loans to the secondary market. The secondary market for these loans provides smaller banks with current period income and much needed liquidity.
"Secondary market participation is the most important component of our program, "says Young. "When effectively implemented, smaller banks may see this aspect of our service to be the greatest contributor to its overall profitability."
Midwest Capital Corporation is a national, non-bank lender specializing in commercial real estate lending via conventional, SBA and Stated Income loan programs. Additionally, the company is an outsourced resource to community banks by providing marketing assistance, SBA loan packaging and Secondary Market sales for government guaranteed business loans.
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