ATLANTA, Nov. 7, 2005 - The financial services arm of UPS (NYSE:UPS), UPS Capital, has been selected as a Preferred Member Provider for CBAO Service Corporation, a wholly owned subsidiary of Community Bankers Association of Ohio.
UPS Capital, a non-depository bank lender, will provide CBAO members with a number of commercial lending options for their small business clients through its subsidiary, UPS Capital Business Credit®. As a provider of government guaranteed loans through programs of the U.S. Small Business Administration (SBA), UPS Capital Business Credit helps small businesses gain capital to grow through business acquisitions, commercial real estate construction and national franchise opportunities.
"Our members now have access to a greater portfolio of SBA lending options with the designation of UPS Capital as a Preferred Member Provider, and are in a position to better compete with regional and national banks," said Chuck Dixon, vice president of CBAO Service Corp., a wholly owned subsidiary.
Earlier this year, the SBA designated UPS Capital a member of its Preferred Lender Program giving UPS Capital the ability to make loan decisions on behalf of the SBA, thereby reducing the time it takes UPS Capital to process, approve and fund loans for CBAO members.
Since 2001, UPS Capital Business Credit has consistently been a leading lender in the SBA's 7(a) government guaranteed loan program. In fiscal 2004, UPS Capital Business Credit provided 69 SBA transactions valued at $47 million.
In addition to facilitating loans through these programs, UPS Capital also provides a broad array of services from traditional commercial lending to accelerated payments for UPS's Collect On Delivery (C.O.D.) service and insurance products through UPS Capital Insurance Agency, Inc., and its licensed affiliates.
The Community Bankers Association of Ohio is Ohio's oldest statewide financial trade association representing independent community bank and thrift institutions. The CBAO has the influence to effectively serve, protect and promote the interests of its members through legislative and regulatory representation, endorsed member program, insurance and financial services, education and training, communications, annual convention and trade show, special events and other valued services. CBAO members serve their communities through 643 locations with more than 5,000 employees in Ohio. Members collectively hold $22 billion in assets, $17 billion in insured deposits and $14 billion in net loans.
UPS is the world's largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. UPS's stock trades on the New York Stock Exchange (UPS), and the company can be found on the Web at UPS.com.
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Government guaranteed loans are offered through UPS Capital Business Credit, a subsidiary of UPS Capital Corporation. UPS Capital Corporation is neither an agent for, nor associate of, UPS Capital Business Credit for the purposes of originating, processing, underwriting or servicing government guaranteed loans. Credit availability is subject to approval, and products may not be available in all areas and may be modified based on requirements. Insurance is offered through UPS Capital Insurance Agency, Inc. and its licensed agency affiliates. Insurance programs are governed by the terms, conditions, limitations and exclusions set forth in the applicable insurance policy and UPS Capital Insurance Agency, Inc. and its licensed affiliates reserve the right to change or cancel the programs at any time.
Laurie Mallis
UPS
404-828-7183
lmallis@ups.com
Mike Slatin
Fleishman-Hillard
314-982-8661
slatinm@fleishman.com
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