NACUSO Marketplace Provider
Organization Name: Innovative Business Solutions
NACUSO Membership: Standard
Year Formed: 2008
Description of Your Services: Innovative Business Solutions, LLC is a Commercial Loan CUSO located in Columbia, SC and wholly owned by 7 credit unions in SC and NC. IBS provides total back-office support for a credit union’s commercial lending activities, including credit analysis and loan recommendations, annual reviews, management of the appraisal and environmental assessment process, loan document generation, and servicing of the loan portfolio. The company also provides consulting services around startup of a new commercial lending program or building an existing program through Board training, loan officer and credit committee credit training, and sales training, and participation arrangement services for its credit unions. We also help the credit union develop and maintain a regulatory compliant commercial loan policy. We also offer a Shared Lender Program for credit unions starting out in commercial or wishing to enhance their existing program.
Services You Provide:
Business Lending:Sourcing Commercial Mortgage LoansUnderwriting Commercial Mortgage LoansServicing Commercial Mortgage LoansSourcing Equipment LoansUnderwriting Equipment LoansServicing Equipment LoansSourcing Inventory LoansUnderwriting Inventory LoansServicing Inventory LoansSourcing Lines of CreditUnderwriting Lines of CreditServicing Lines of CreditReview of Loan PortfoliosConsulting on Business LendingSale/Purchase of Loan Participations in Business Loans
Why should a credit union use your services?: IBS provides high quality and cost effective services. IBS currently has over $500 million in commercial loans in credit union portfolios. Portfolio quality consistently maintains 99.5-99.89% of loans rated satisfactory or better, past dues typically run between 0.00-.25%, well below CU and bank industry norms, and there has never been a charge off or loss on a loan underwritten by IBS. In addition to providing high quality credit analysis, we provide quick turn times of 5-7 business days. The Shared Lender Program allows a credit union to start or enhance a current program by sharing in the cost of the loan officer and the loans generated.
Percentage of Users/Customers that are Credit Unions: 100
Are You a CUSO?: Yes
Are there investment opportunities for credit unions?: No
Describe Your Business Model:Fee for services.Cost containment through economies of scale.
Are you currently seeking additional users/customers?: Yes
Do you offer discounts or other benefits for NACUSO Members?: No
Additional Information:
Website: www.ibscu.com