BELLINGHAM (April 20, 2021) – WECU has established a Diversity Loan Program designed to empower women, minority, and veteran-owned businesses. The program leverages existing business banking products including lines of credit and term loans while extending a more lenient credit policy for qualifying small business owners.
“WECU is committed to supporting our community,” said Kent Bouma, VP of Business Banking at WECU. “We hope this new program makes a meaningful difference for these small business owners.”
WECU has identified more than 1,700 businesses in their market that could qualify for this program.
In addition to lending products, the Credit Union will also provide information and awareness of other funding programs available to minority business owners through the SBA and Business Development programs.
To be approved, business owners must receive certification from the Office of Minority and Women’s Business Enterprises (OMWBE) and the other criteria set by the program.
To learn more about the program, visit wecu.com/DiversityLoan.
WECU, headquartered in Bellingham, WA, serves more than 132,000 members and manages more than $2.1 billion in assets. The credit union has 415 employees and, in 2020, donated approximately $500,000 to local nonprofits and community groups.
Keith Mader, Program Manager PR & Content at WECU, 360-756-7694, [email protected]