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Welcome from Larry Ellison, President of eDocs-Express
and CEO of Integrated Credit Union Services
Larry Ellison, Loren Wilson, Joanna Bruno
and Bob Jett
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Hello and welcome to the first issue of the eDocs-Express Dispatch!
For those of you whom I've not had the opportunity to meet, I'm Larry Ellison, CEO of Integrated Credit Union Services dba West One Financial Group, the holding company for West One Federal Credit Union. I'm also President of eDocs-Express LLC which we recently formed to offer credit unions an easy and inexpensive way to begin making and documenting commercial loans for their members.
The Dispatch is our monthly newsletter, designed to keep you up-to-date on commercial lending events and what's happening here at eDocs-Express. We also will be providing insights into issues surrounding loan documentation and compliance. We hope you enjoy the Dispatch!
If you'd like more information, please call us at 925-245-4884 or click on the "Contact Us" box below. You can also visit our web site at www.edocs-express.com.
Also, if there's a particular commercial lending subject you'd like us to address in an upcoming issue of the Dispatch, please let us know and we'll try to accommodate you.
Lastly, if you prefer not to receive future issues of the Dispatch, please click on the button at the bottom of this email and you will be removed from our mailing list.
Thanks for reading and welcome! We look forward to serving you.
Sincerely,
Larry Ellison
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News from the Commercial Lending World
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Credit Unions Starting Up Commercial Lending Operations. In 2004 a number of credit unions began or expanded commercial lending operations. Read Tom Geggel's article dated January 10, 2005, published on CreditUnions.com and titled "Rise in Business Lending Provides Growth Opportunity." Tom Geggel is an Industry Analyst with Callahan & Associates. Read the article.
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180,000 New Members in November, Count Still Down for 2004. The Credit Union Times reports that an estimated 180,000 new members joined credit unions in November of 2004. Read the article.
Demand for SBA-Backed Loans are on a Record Pace. The SBA reported in its January 7, 2005 online newsletter that SBA-backed loans were on a record pace for the last fiscal quarter. Read the article.
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News and Solutions from eDocs-Express
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Financial Ratios. Have you ever wondered why many lenders require borrowers to comply with financial statement ratio requirements? Read Bob Jett's article on "The Use of Financial Statement Ratios in Business Loan Agreements." Bob is General Counsel for eDocs-Express and was the primary designer and author of Laser ProŽ Lending, a service-marked software product of Harland Financial Solutions.
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How to Start a Commercial Loan Department. We recently formed eDocs-Express to assist lenders in developing policies, procedures and systems to operate commercial lending departments. We perceived this need, especially in the credit union market, as more and more credit unions were expressing a desire to move in this direction for the benefit of their members. Read about how eDocs-Express can get you started.
SPAM Emails. There are lots of definitions for "spam." Most refer to "junk" email sent to large numbers of people to promote products, services or services. In many cases the "spammer" hides his or her identity. We don't think our email is spam; however, as mentioned above, if you don't want to receive future issues of the Dispatch, please click on the button at the bottom of this email and you will be removed from our mailing list. To learn more about spam and "phishing" read "The Big Phish," a recent article by Tripp Johnson, published on Gonzo Banker. Gonzo Banker is a web site containing an ongoing collection of observations, ruminations, predictions and random thoughts on financial services from the team at Cornerstone Advisors.
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eDocs-Express LLC
5666 La Ribera Street
Livermore, CA 94550-2501
925-245-4880
www.edocs-express.com ¤ sales@edocs-express.com
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