Midwest Capital Announces New Venture: Loan Packaging and Servicing Center, LLC
Midwest Capital Corporation announces a new venture company, Loan Packaging and Servicing Center, LLC (LPSC). This new company will respond to the need of community banks wanting to utilize Midwest Capital Corporation's expertise in loan packaging and closing, secondary market sales and servicing for SBA guaranteed loans. LPSC will provide back office support to banks by assisting loan officers with structuring their deals to insure compliance with SBA eligibility requirements.
Fishers, IN (PRWEB) November 29, 2007 -- Midwest Capital Corporation announces a new venture company, Loan Packaging and Servicing Center, LLC (LPSC). This new company will respond to the need of community banks wanting to utilize Midwest Capital Corporation's expertise in loan packaging and closing, secondary market sales and servicing for SBA guaranteed loans. LPSC will provide back office support to banks by assisting loan officers with structuring their deals to insure compliance with SBA eligibility requirements.
"We are providing assistance to allow bankers to focus on business development and customer service," said Steve Young, president, Midwest Capital Corporation.
The separation of the two business ventures will allow Midwest Capital Corporation to focus on its niche commercial mortgage business and LPSC to focus on providing premium service to its banking clients. Since the launch of its SBA packaging program in January, Midwest Capital Corporation has seen a steady increase in demand from community banks looking to energize their SBA lending program.
"Working with Midwest Capital has allowed us to grow in a short period of time. As a result of taking advantage of their second market, our bank has enjoyed a significant increase in income," said Jeff Salesman, Bank of Indiana. "With the support from Midwest Capital we are now the fifth leading bank lender in Indiana."
Young has been recognized as the top SBA 7A originator in Indiana and brings over 20 years of SBA experience. As a non-bank lender, Midwest Capital Corporation offers the highest loan-to-value and longest repayment terms available in the market today. Midwest Capital has been recognized among Indiana's top SBA 504 lenders for the third consecutive year.
Midwest Capital Corporation (www.midwestcapitalcorp.com) is a national, non-bank lender which provides both conventional and SBA 504 long term commercial mortgage loans to small and medium companies. Specializing in commercial and investment real estate financing, they loan to business owners and real estate investors ranging from $500,000 to $10,000,000. Their programs allow clients to accomplish their objectives, be it an acquisition or refinancing, while preserving capital, and enhancing or improving cash flow.
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