Two Strategies (One CU) To Build Biz Lending: Coastal FCU Has Separate Programs Depending On...

ORLANDO, Fla. -- Coastal FCU has built a commercial lending operation in a unique way-actually, two ways.

As Pete Van Graafeiland, VP-mortgage services, explained, the credit union has two distinct MBL programs. The first provides and services the typical $50,000-$100,000 loans, such as those often seen through SBA. A separate and distinct staff services the $500,000 to $20-million loans on the commercial side.

"We started on the retail side very modestly," said Van Graafeiland. "That puttered along, and we added a second individual, and finally the board de