Business News
Grow Your Business with MAFCU and SBA
MAFCU gives business owners access to U.S. Small Business Administration (SBA) financing to help them grow their businesses. As an SBA-approved lender, the Credit Union offers members access to the SBA Express and SBA Patriot Express lending programs, as well as additional free resources.
“Business owners get real benefit from MAFCU being an SBA Lender,” comments Michael Shuman, MAFCU’s Vice President of Lending.
“Our SBA partnership gives our members access to working capital, as well as free resources that help businesses in a variety of ways such as how to create business plans, and how to market their business.”
Fast turnaround, working capital. SBA Express allows MAFCU to offer business members a decision within three days as well as more flexibility when they apply for loans. SBA Patriot Express offers the same fast turnaround and flexibility for business members who are military veterans, reservists, National Guard members, and spouses. SBA loans are guaranteed, and all SBA programs and services are provided on a nondiscriminatory basis.
The SBA loans offer businesses lines of credit up to $200,000. These funds mean steady working capital for businesses that may have cash flow fluctuations.
Additional resources. SCORE is an SBA resource partner that supports business owners and the formation, growth, and success of small businesses. Small Business Development Centers (SBDCs) provide no-cost consulting and low-cost training to small businesses. This network is hosted by leading universities, colleges, and state economic development agencies, and funded in part through a partnership with the SBA.
The SBA also helps small businesses do business with the federal government. “The federal government is the largest purchaser of goods and services in the world,” explains David Polatin, SBA Assistant District Director/Business Development.
For information on MAFCU Business Loans, contact Joe Kopnisky, MAFCU’s Business Relationship Manager at 617-278-5638 or jkopnisky@mafcucreditunion.org.
Managing Business Relationships
Joe Kopnisky, MAFCU's Business Relationship Manager, is a great resource for business owners and entrepreneurs looking to grow their businesses. Kopnisky, who joined the MAFCU staff earlier this year, is experienced in commercial finance. He previously served as a Business Banking Officer with Citizens Financial Group, and as a Personal Banker at US Bancorp.
MAFCU's business products and services are available to meet business owners' financial needs. MAFCU Business Loans can help finance such expenses as working capital, inventory, expansion, equipment purchase or commercial real estate.
"The Credit Union truly offers business members a great value with our competitive pricing, educated staff, and personalized services," says Kopnisky. "We also offer the benefit of credit union membership to their employees."
One of the newest businesses to join the Credit Union is J and N Livery, owned by Narciso Domingo. The Credit Union helped him expand his services by enabling him to add a new vehicle to his car service along with a Small Business Administration guaranteed line of credit.
"In this challenging economic environment, MAFCU remains a stable institution seeking to assist business owners in the community," comments Kopnisky. "We provide them with the tools and advice they need to grow."
MAFCU offers business owners great rates on loans, lines of credit, savings accounts, Visa credit cards, money markets, and term certificates.
For information on MAFCU's business products, contact Joe Kopnisky at 617-278-5638 or jkopnisky@mafcucreditunion.org.
MAFCU Helps Local Businesses Grow
When Tony Kariotis, owner of Airo Sports in Brookline, joined MAFCU last month, he was happy to get a business loan from a financial institution right around the corner. Located at 135 Cypress Street, Airo Sports is a neighboring business that has been serving the Brookline area for twenty years. Kariotis took over the business from his father in 2005. Airo Sports specializes in custom printing on all kinds of apparel, embroidery stitching, and custom trophies. Clients include schools, businesses, church groups, and restaurants in locations as nearby as Brookline and as far away as Greece. “The new equipment I bought with my MAFCU loan lets me print in any color on fabric directly from a computer-generated graphic,” explains Kariotis. “MAFCU helped me get the latest technology to create custom-designed shirts for my customers. I appreciate their personalized services and competitive rates.” For more information on Airo Sports, go to www.airosports.com or call 617-566-2476.
For more information on MAFCU's business products, contact Joe Kopnisky, Business Relationship Manager, at 617-278-5638 or jkopnisky@mafcucreditunion.org.
