No business can operate alone; we all need a large group of other individuals and businesses to help us succeed. At Garan Commercial Properties, when one of our clients needs someone to help their business grow, we look into our list of contacts to see if we can find someone with the requisite skills to further aid our client or their business.
1. Please provide a brief history of your current business and/or area of expertise.
My 30 year career in finance includes regulatory experience with the Texas Banking Department, executive bank management in two community banks, along with commercial and SBA lending experience. I am active in the commercial realtor and business brokerage communities, along with various business/industry organizations.
I have been integrally involved with SBA lending since 1994, when I opened Independence Funding Company’s office in Houston. In July 2009, I joined Members Choice Credit Union as Business Lending Manager to inaugurate the SBA Lending Program.
2. What is your specialty or target market(s)?
Members Choice focuses on financing owner-user commercial properties with SBA loans. We also like to originate SBA loans for professional practices.
2. What are the greatest challenges facing your clients presently?
Small businesses are currently faced with declining trends in sales and income as a result of the economy. At the same time, they are faced with a scarcity of available credit for financing their operations.
3. What advice do you give clients or potential clients to overcome these challenges?
Since we originate small business loans with partial backing (a government guarantee) from the U. S. Small Business Administration, our risk is less than that of lenders who originate conventional small business loans. In many cases, we can originate an SBA loan when the small business’ own bank cannot. After obtaining an SBA loan, the small business usually ends up with a much longer repayment term than with a conventional loan, and they are able to dedicate that excess cash flow to ongoing operations and expansion of the business.
4. What, if any, positive aspects do you see in the current market?
For a business that can qualify for financing, now is a great time to perform a cost/benefit analysis for owning instead of leasing their owner-occupied business property. Due to better real estate prices in a stagnant market, a small business owner can often experience a reduction in occupancy costs while owning a long term asset which accumulates equity as the loan is paid down and the market recovers.
5. What is your outlook for the remainder of this year? Next year?
I believe interest rates will remain very low in the next couple of years, and the economy will slowly recover. This provides a very good opportunity for business owners to expand or acquire property with the help of our SBA services.
7. What separates you from your competition?
A credit union is a nonprofit organization. We are owned by our members (depositors). We do not have stockholders demanding a return on their investment. As a result we have members who expect and receive exceptional service with more favorable pricing.
6. What is the greatest satisfaction that you get from operating your business?
My greatest satisfaction is seeing a small business loan customer succeed by virtue of his own perseverance, determination, strength, knowledge and professionalism. Knowing we had some small part in that by providing access to the necessary funds only reinforces my decision to focus my career in this sector of the lending industry.
7. What are some points you hope clients take away from their initial meeting with you? After conducting and completing business with you?
I like to see our small business customers experience Members Choice Credit Union as their financial partner and their friend.
8. How may people contact you?
I can be reached at 281.754.1112, or directly at 281.384.2595. Feel free to contact me by email at
bhurta@mccu.com or visit the Member’s Choice website at
www.mccu.com. We look forward to helping you with your business banking and financing needs
We hope you have enjoyed learning a little about Bruce Hurta, Business Lending Manager at Member’s Choice Credit Union.
Check back often to meet more of the people we know who can help you and your business succeed.