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NACUSO Marketplace Provider

Organization Name: Octant Business Services, LLC
NACUSO Membership: Standard
Year Formed: 2005
Description of Your Services: Octant provides the following business lending services to its clients: • Underwriting (new loan requests, annual reviews & participation reviews) • Loan servicing and credit administration • Loan documentation • Program planning & implementation support and training • Loan participation network for buyers & sellers
Services You Provide:
Business Lending:Underwriting Commercial Mortgage LoansServicing Commercial Mortgage LoansUnderwriting Equipment LoansServicing Equipment LoansUnderwriting Lines of CreditServicing Lines of CreditSale/Purchase of Loan Participations in Business Loans
Why should a credit union use your services?: A credit union should use Octant’s services if it desires any of the following: • Independent third-party underwriting • Comprehensive loan servicing • Allows credit union to focus on loan origination, relationship management and cross-selling. • Low start-up and ongoing program expenses • Less risk of productivity disruption because of employee attrition • Credit risk management independent from sales function • An established infrastructure that provides safety and soundness • Ability to select only the services needed (a la carte)
Number of Credit Union Customers: 33
Percentage of Users/Customers that are Credit Unions: 97
Are You a CUSO?: Yes
Are there investment opportunities for credit unions?: No
Describe Your Business Model:Fee for services.
Are you currently seeking additional users/customers?: Yes
Do you offer discounts or other benefits for NACUSO Members?: No
Website Link:
Contact Information:Quentin LewisSVP Client Services26 North Rd. Unit 2, Chelmsford, MA

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