Twenty-five years ago, when I started my career in lending, I had no idea that 90's fashion would one day make a comeback. I probably still have a pair of Zubaz pants somewhere in my closet.
All these years later, I remain passionate about lending because I love helping people grow their business. As Senior Vice President of Commercial Services at Apple Federal Credit Union, I've seen a lot over the years when it comes to development. Fads and trends come and go, but this simple fact remains — no two businesses are the same.
Success in small business lending requires both market expertise and an innovative approach to lending; there shouldn't be a cookie-cutter approach to growing your company.
I'm proud to say that Apple FCU is revolutionizing how we help small businesses find the individual, customized solutions they need. We will start rolling out some changes this month, and I'm excited to tell you more about them.
What We Do
Apple FCU was a trailblazer among credit unions when it debuted a Commercial Services team 15 years ago. From the start, our goal was to provide outstanding member service while financing specific types of loans that benefited businesses.
Our team has helped many mid- to large-sized businesses over the years. We're proud of how we helped those companies; however, we realized there were still opportunities out there for small businesses.
The average small business is not looking for a multimillion-dollar loan. It's the coffee shop around the corner that needs a line of credit, a landscaping company adding a car to build its fleet, or an IT company needing help with payroll.
These loans are typically smaller — often less than $50,000 — and can make or break a company. When small businesses need money, speed is paramount.
Apple FCU previously lacked the resources to consistently execute these types of loans quickly and effectively. That is no longer the case, as we've adjusted our process to better provide smaller dollar loans to small businesses.
Quick and Easy
Our redesigned small business lending program will now utilize machine learning to provide businesses with rapid, streamlined service.
Starting this month, our team can provide decisions on Commercial Loans between $5,000 and $100,000 in less than two days.
Although we're getting faster, we are maintaining the safety and responsibility that Apple FCU's Lending team is known for. Borrowers will quickly receive decisions about Credit Cards, Lines of Credit, Vehicle Loans and Term Loans without having to fill out complicated application forms or provide years of financial statements.
We're eliminating the back-and-forth to create a fast, safe and simplified process that provides quicker access to capital and a better experience for our members. Whether you are starting small or thinking big, Apple FCU has the lending resources small businesses need.
Banking for Business
One of the advantages of working with Apple FCU is our exceptional service. Our clients work with one main point of contact, ensuring that local decisions about your business are made by local experts who understand the market's characteristics.
Your business deserves both personalized service and a top-of-the-line digital experience. That's why we've made it easy to open a business account online, with our dedicated team ready to help each step of the way.
Wherever you are, your Apple FCU business account is just a few clicks away. Apple FCU Online Banking and the Mobile App lets you access your accounts, make transactions, provide account entitlements to authorized users, pay bills and conveniently manage your finances.
We also offer access to seamless payment processing through a suite of cutting-edge payment tools. Whether you're executing wire transactions through our wire portal, utilizing ACH Direct Pay or accepting checks digitally through Remote Deposit Capture, we have you covered.
Protecting your business's financial integrity is what upholds your reputation. Our Positive Pay program fortifies your accounts against unauthorized access and fraud by cross-referencing transactions against a list of previously authorized checks and ACH information.
We would love to tell you more about what we can do for your business. Our lending experts have decades of experience in helping companies grow and thrive in the Northern Virginia region. If you're interested in opening a Commercial Loan with Apple FCU or simply want to learn more, contact us and one of our specialists will be in touch.
We look forward to serving you!
