Alabama credit unions are fine-tuning their small business relationships

A recent article in Alabama.com reported that when Amanda Bender, owner of RedX Fitness, decided to rebrand her business, she also wanted to refinance one of her three facilities, a 33,000-square-foot building on 10 acres in Decatur. She had originally financed the business about a dozen years ago with a Small Business Administration (SBA) loan […]

A recent article in Alabama.com reported that when Amanda Bender, owner of RedX Fitness, decided to rebrand her business, she also wanted to refinance one of her three facilities, a 33,000-square-foot building on 10 acres in Decatur.

She had originally financed the business about a dozen years ago with a Small Business Administration (SBA) loan through a conventional bank, Bender says.

“I was looking at another SBA loan,” she says, “but the fees are very high.”

Then a customer told her about the credit union where he worked.

“One of my members got hired on at Alabama Credit Union, and he knew I was looking to do some things financially,” says Bender. “He talked to me about the different [loan] options that I didn’t even know were available through the credit union.” Read full article here.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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