ATLANTA, Nov. 28, 2006Continuing its commitment to small businesses, UPS Capital, the financial services arm of UPS (NYSE:UPS), has become one of the nation's top lenders under the government-guaranteed 7(a) loan program of the U.S. Small Business Administration (SBA).
For the SBA's fiscal year ended
"UPS is committed to helping small businesses succeed and grow and that means we strive to help them not only move their goods and information but also secure the financing they need," says Bob Bernabucci, president, UPS Capital.
UPS can offer solutions to small businesses that combine financial services with the company's core package shipping and supply chain capabilities. One beneficiary of this comprehensive portfolio is TrueWave, LLC, a producer of high-end audio equipment under the brand name Wadia.
In addition to relying on UPS Capital Business Credit to facilitate an SBA loan for business acquisition and working capital, TrueWave ships its products via UPS air freight services and UPS Ground. The company uses UPS WorldShip to process shipments and Quantum View Notify for package status email notifications.
"After reaching out to several traditional banks for lending options, we decided to go with UPS Capital because they offered a complete solution for our business," says John Schaffer, president of Wadia. "The UPS Capital team really understood our vision, and they worked with us every step of the way to ensure that we got the very best service."
A key reason UPS Capital has been able to achieve double-digit SBA lending growth has been its participation in the SBA's Preferred Lender Program, which slashes the amount of time and effort it takes for business customers to secure SBA loans. In 2005, UPS Capital Business Credit became a PLP participant in all of the SBA's 75 districts covering the contiguous
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
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Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, governmental regulations, our competitive environment, strikes, work stoppages and slowdowns, increases in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.
UPS Capital loans are made in