GCL Recent News
Stay informed about Greater Commercial Lending (GCL) with this helpful collection of press releases, industry news bulletins and GCL company updates.
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."
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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.
USDA Lender of the Year 2017
For the second 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 2017 GNCU obligated more than $472 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 $320,830,000 in guaranteed loans.
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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.
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