Greater Commercial Lending (GCL) Closes $10 Million Loan for Underground Coal Mine
GCL, a subsidiary of Greater Nevada Credit Union, recently closed a $10 million loan to provide term financing for an underground coal mine in southeastern Kentucky using the Business & Industry loan guaranteed program. Click here to learn more
USDA Lender of the Year 2018
For the third year in a row, Greater Nevada Credit Union (GNCU) was named the National Lender of the Year by the United States Department of Agriculture (USDA) thanks to the efforts of GNCU's subsidiary, Greater Commercial Lending. In 2018 GNCU obligated more than $449 million in loans, all guaranteed by the agency’s programs, representing a nearly 400% increase over loan obligations from 2016. In Nevada alone, GNCU obligated $314,851,300 in guaranteed loans.
GCL lead lender for two new renewable diesel production facilities in Nevada
"Greater Commercial Lending (GCL), a wholly-owned subsidiary of Greater Nevada Credit Union (GNCU), is the loan originator to Ryze Renewables’ construction of two new eco-friendly biorefinery facilities being built in Nevada." Click here to continue reading.
GCL Names Jenny Casselman VP of Commercial Operations
Greater Commercial Lending (GCL), a wholly-owned subsidiary of Greater Nevada Credit Union (GNCU), has named Jenny Casselman its Vice President of Commercial Operations. Casselman is responsible for delivering strategic objectives related to the commercial loan servicing, secondary marketing, funding and investor efforts within GCL, which provides commercial lending services to entities across the nation. Click here to read the full release.
Hospital to add health clinic, make $4.2 million in repairs, improvements
Four years after a multi million-dollar renovation and expansion project to make Boulder City Hospital a more financially viable institution, the medical facility is about to embark on another project to bring much-needed health services to the community.
Last week, the U.S. Department of Agriculture announced it has funded a $4.2 million guaranteed loan for the hospital that will allow the facility to make repairs and improvements along with creating a rural health clinic, said hospital CEO Tom Maher.
Greater Commercial Lending (a subsidiary of Greater Nevada Credit Union) will administer the loan, with a 90 percent guarantee from the USDA. Click here to continue reading the news release from Boulder City Review.
Energy Programs Should Be Fully Funded and Enhanced in the 2018 Farm Bill
"There has been a keen focus the last few weeks for President Trump and the USDA with the release of the Task Force on Agriculture and Rural Prosperity Report, President Trump’s recent speech to the Farm Bureau, and the release from USDA of the 2018 Farm Bill and Legislative Principles..."
Read the complete article, co-authored by GCL's Executive Vice President, on Biofuelsdigest.com.
Credit unions fund largest ever USDA biofuel loan
"A consortium of credit unions, led by the $875 million Jefferson Financial FCU of Metairie, La., funded a $112.6 million loan guaranteed through the USDA Rural Development Biorefinery, Renewable Chemical and Bio based Product Manufacturing Assistance Program. The loan, which closed last month, is the largest to date for the USDA program, which assists in the development, construction and retrofitting of new and emerging technologies for advanced biofuels, renewable chemicals and bio based products.
CU Capital Market Solutions (CMS), an Atlanta-based CUSO, was the lead loan participation agent for the deal. The loan will be serviced by Greater Commercial Lending, a CUSO owned by the $825 million Greater Nevada Credit Union of Carson City, Nev."
Click here to continue reading on CUInsight.
Greater Nevada forms new Commercial Lending Company
Greater Nevada Credit Union (GNCU) is announcing the recent launch of a new wholly owned commercial lending subsidiary called Greater Commercial Lending.
Greater Commercial Lending is an expansion of GNCU’s nationally-recognized commercial services department. Click here to read the full press release.
Lending for a Greater Louisiana
As its name implies, Greater Nevada Credit Union (parent company of Greater Commercial Lending) tries to do a lot to stimulate the economy in the Silver State.
But the $729 million CU, based in Carson City, Nev., has an award-winning small business lending program that is booking loans in Louisiana – a state that is far from Nevada’s deserts and mountains in nearly every way.
Click here to continue reading.