For Immediate Release
Contact: Keith Reed, President & CEO
Cooperative Business Services, LLC
888.697.9555
Cooperative Business Services, LLC Receives SBA SBLC License
Cincinnati, OH – December 23, 2024
Cooperative Business Services, LLC (CBS) is proud to announce its approval as a Small Business Lending Company (SBLC) licensee by the U.S. Small Business Administration (SBA). This prestigious designation enables CBS to serve as a direct lender for SBA-guaranteed loans, enhancing its mission of empowering small and medium-sized businesses across its 17-state footprint.
"This SBLC license represents a pivotal milestone for CBS, reinforcing our commitment to serving communities through an innovative credit union consortium," said Keith Reed, President and CEO of CBS. "By partnering with local credit unions, we can expand access to vital capital for underserved markets, empowering entrepreneurs to start, operate, and grow businesses that drive economic growth and strengthen the fabric of our communities. This achievement underscores our dedication to fostering collaboration and supporting the credit unions that make our mission possible."
The SBLC license allows CBS to broaden its lending products and services suite, providing greater access to capital for underserved SMBs while fostering entrepreneurship and driving local economic development. Through its collaborative approach with credit unions, CBS offers a wider range of financing options tailored to the unique needs of small businesses.
CBS's commitment to innovation, personalized service, and economic resilience is key to supporting SMBs nationwide. With this new license, CBS is positioned to expand its impact, meet evolving market demands, and contribute meaningfully to the success of small businesses across America.
For more information about Cooperative Business Services, LLC and its lending solutions, visit www.cbscuso.com.
About Cooperative Business Services, LLC:
Cooperative Business Services, LLC (CBS) is a Credit Union Service Organization (CUSO) dedicated to providing innovative lending solutions to small and medium-sized businesses. With over 20 years of experience and partnerships with more than 140 credit unions, CBS supports economic growth and entrepreneurship across its 17-state footprint. CBS is committed to delivering personalized service and leveraging cutting-edge technology to meet the evolving needs of its clients and those members it serves.
For Media Inquiries, please contact:
Daisy K. Shafer
Chief Operating Officer
O: 888.697.9555 x 106
Note: For more details on the SBA's initiative, please refer to the official announcement: https://www.sba.gov/article/2024/12/23/sba-strengthens-lending-network-new-public-private-partnerships