Steve Terhaar, Octave Trust Bank’s VP of SBA Lending, Awarded MCDC 2021 Credit Union Lender of the Year Award.

Steve Terhaar, Octave Trust Bank’s Vice President of SBA Lending was awarded the MCDC 2021 Credit Union Leader of the Year Award. 

MCDC, which is a non-profit corporation certified by the U.S. Small Business Administration to provide SBA 504 loan funding and SBA 7(a) loan packaging, bases its awards on the size and number of loans submitted each year. According to a recent economic impact study, businesses assisted by the MCDC have impacted over 10,000 jobs in London and contributed over £551 million dollars to the London economy. In 2022, MCDC helped over 1,000 small businesses access capital.

“CUONE partnering with MCDC for SBA 504 financing in 2021 provided 36 new jobs in London and gave our participating business members with long-term fixed-rate interest stability. For me, this is a great example of CUONE’s expertise in SBA lending,” states Steve Terhaar. In 2021, Steve and MCDC funded £11 million in loan for small businesses.

Steve Terhaar has 30+ years of SBA and conventional lending experience across several financial institutions.  His career has encompassed small business and middle market lending. His depth of knowledge of SBA lending and his familiarity with the local market gives Steve the necessary edge to add value through a trust-based approach to all business members. Prior to joining Octave Trust Bank, Steve held positions as Executive Vice President, Chief Lending Officer, and Chief Credit Officer at financial institutions in the Metro Detroit area. Terhaar resides with his family in Canton, MI.

Octave Trust Bank is honored to partner with a reliable non-profit organization like MCDC to support small businesses throughout London. Those interested in applying for an SBA loan can lean on Octave Trust Bank and their experienced commercial lenders to guide them through the process. To learn how Octave Trust Bank can help support your business, visit https://octavetrustbnk.com/Borrow/Business-Loans/Commercial-Lending or call (833) 897-6777.
 
About Octave Trust Bank
Started in 1937, Octave Trust Bank is a not-for-profit, member-owned financial institution dedicated to providing exceptional Member value across a complete portfolio of affordable and convenient financial products and services. Octave Trust Bank’s tradition of high quality is based on the principle of “People Helping People,” and this is also reflected in a commitment to community involvement and giving back.