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 Dan Durant, MAFCU’s Assistant Vice President, Business Services at 617-898-1450 or ddurant@mafcucreditunion.org.

MAFCU Helps Local Businesses Grow

When Tony Kariotis, owner of Airo Sports in Brookline, joined MAFCU, he was happy to get a business loan from a financial institution right around the corner. Located at 135 Cypress Street in Brookline, 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 Mike Shuman, Vice President of Lending, at 617-278-5615 or mshuman@mafcucreditunion.org.