REWARD MERCHANTS IS EXCITED ABOUT PARTNERING UP WITH SUPERIOR FINANCIAL GROUP AS THE NATION’S TOP SBA LENDER Westlake Village, CA December 17, 2009
John Segura, CEO of Reward Merchants International (RMi) is very excited about this new partnership to bring extra working capital to small businesses as a payment provider in the financial industry So it’s not hard to see RMi as a Financial Partner helping small businesses grow their dreams.
RMi as a financial service provider to payments, loans, and cash advance products found that many business owners were not happy with all the red tape and lengthy processes to qualify for business loans and credit card processing that Big Banks require of the small business owners to just be turn down. As you will experience with our programs you can have an answer to your credit card processing and loan needs within two days and sometimes faster.
As you read on you will find why Reward Merchants International chose Superior Financial as a partner for our clients loan needs:
Superior Financial Group (SFG) October 28, 2009 announced that it has taken over as the top SBA lender in the country, in terms of number of loans. This title had been previously held by banking giants such as Bank of America or J.P. Morgan Chase. Superior Financial Group a small, independent operation located in Suburban Walnut Creek, CA produced 2,690 SBA (7a) loans totaling $27.1 million to entrepreneurs during the SBA’s fiscal year running October 1, 2008 to September 30, 2009. “This independent lender was able to outperform the larger, more established Banks by providing financial products to meet the needs of Main Street businesses providing capital and training to expand their business and hire new employees. In doing so, SFG has become the top SBA lender in the country” stated Bob Coleman, Founder of Coleman publishing. “This really is a story of David and Goliath,” he added.
SFG was also the #1 lender in six of the Minority owned business groups SBA tracks, utilizing SBA’s pilot program called “Community Express” which was designed to encourage lenders to reach the underserved minority borrowers and provide free technical assistance.
African American Community, SFG funded 459 loans, in contrast to the second place lender which funded 91.
Women Owned Community, SFG funded 901 loans, in contrast to the second place lender funded 378.
Hispanic Community SFG funded 197 loans or 10% of all SBA 7a loans to Hispanics.
Native American Community, SFG funded 12% of all SBA 7a loans to Native Americans.
Veteran Loans (Patriot Express Program) SFG funded 37%, 816 loans under the patriot express program, in contrast to the second place lender funded only 46 loans.
Export Loans (all 7a categories) SFG funded 90 loans, in contrast to the second place lender which funded 46.
According to Tim Jochner, President and CEO of SFG, the key to their success has been utilizing advanced technology and developing operational processes to reach and serve the underserved businesses on Main Street, while providing capital, training and support at affordable rates and terms. “We believe small business innovation and entrepreneurship will be the key to our economic recovery,” he said. “SFG will continue to provide financial services at our nation’s core, which has proven to create new jobs for America as they have in the past and will continue to do so in the future”.
SFG is one of only 13 approved Small Business Lending Corporations (SBLC) federally regulated by the SBA, and provides more than just loans to the underserved business community. Additionally, SFG offers free online technical assistance and online training courses that specifically address the borrower’s weaknesses. The courses even include a ‘how to” on writing a business plan, complete with a business plan writing template.
Now you understand why RMi has partner with SFG’s as the #1 lending providers to Minorities and total SBA loans in the nation, this is just an example of our leadership and commitment to serve small businesses.
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