HARRISBURG, Penn.-The Pennsylvania CU Association is preparing to launch an online service that allows buyers and sellers of member business loan participations to connect and exchange information within a secure environment.
Processing Content
The system, to be called Loan Trader, will serve credit unions in the Mid-Atlantic region and will go live on Oct. 28.
Trader will list loans available for purchase by industry type, type and location of collateral, and other factors. Buyers may "shop" for participation loans fitting their own lending criteria.
Loan Trader was developed following input from members of the league's Business Services Professional Group.
