iQ’s digital tools allow members to apply for loans online
VANCOUVER, Wash., August 16, 2022 /PRNewswire/ — iQ Credit Union (iQ), a modern member-owned financial institution based in the Pacific Northwest, today announced a new microloan program that enables qualified small businesses located in Southwest Washington and the Portland online loan application area.
“Most credit unions require business owners to contact a loan officer to begin a small business loan application,” Jeremy Wiersma, vice president of business services at iQ Credit Union, said. “It brings a new level of convenience and speed of service to businesses seeking loans.”
iQ Credit Union‘s New Application Portal Allows Businesses to Apply Online for Loans Under $50,000 without having to go to a branch or make an appointment with a loan officer. “It makes applying for a business loan as easy as applying for a consumer loan,” Wiersma said.
Although iQ Credit Union has offered convenient microloans to small business members to help finance vehicles, equipment and office furniture or set up a line of credit for many years, the online application provides a hands-on global experience by expanding loan access to business owners who may have struggled to find enough time to meet with a loan officer and apply in-branch.
As the world increasingly shifts towards the use of digital tools, business lending has not kept pace with the ease and convenience of consumer online lending options. In fact, the majority of banks and credit unions, both regionally and nationally, still require corporate clients and members to apply for loans of all sizes by visiting a branch and speaking with a loan officer.
“Everyone is pressed for time,” Wiersma said. “Businesses are looking for the fastest, most convenient financial tools. iQ’s new microloan tools help bridge that gap and provide a simple and convenient online solution for business owners.”
ABOUT iQ CREDIT UNION
iQ Credit Union is a full-service financial institution serving the Pacific Northwest since 1940. With over 100,000 members in Washington and Oregon, the credit union is known for its deep commitment to financial education and community engagement – and for its red and black buffalo plaid colors. iQ helps Wanderers and Explorers achieve their financial goals by offering honest and friendly advice at one of its 15 branches. More information is available at iQCU.com.
SOURCE iQ Credit Union