AVANA Companies, a comprehensive lending and asset management ecosystem, announces AVANA CUSO, a Credit Union Service Organization designed to meet the evolving needs of credit unions. AVANA CUSO is a premier provider of a wide range of lending products and services, including exceptional expertise in commercial loan origination, underwriting, and comprehensive loan servicing.
AVANA CUSO, formerly known as Extensia Financial, is a 25+ year veteran CUSO and an integral part of the AVANA Companies ecosystem.
“Through shared staff, shared technology, shared vision and passion, and a shared commitment to delivering superior lending services and solutions, AVANA is able to better serve credit unions and their members,” said Sanat Patel, Chief Lending Officer and Managing Partner at AVANA Companies. “The rebrand and name update is a proud acknowledgement and reinforcement of how integral the CUSO is to our ecosystem.”
The CUSO was founded in 1998 to specialize in commercial real estate. In 2020 AVANA Companies became the majority shareholder enabling the CRE-focused CUSO to offer comprehensive lending solutions nationwide.
“Credit unions play a critical role in supporting local economies, ensuring small businesses have access to capital to grow and in helping their communities thrive,” said Sundip Patel, CEO of AVANA Companies. “AVANA CUSO acts as a partner for credit unions utilizing new technologies to attract, retain, and serve their members, and provide capital for a better tomorrow.”
As part of the rebrand, AVANA Companies has also made changes to the operations of its CUSO to streamline processes and to empower credit unions to make educated decisions regarding portfolio management.
“At AVANA Companies, we take pride in our senior team’s collective 150 years of industry expertise in commercial real estate lending and loan servicing. This level of expertise positions AVANA CUSO as one of the top fintech-enabled CUSOs, delivering innovative technology solutions for credit unions to scale their CRE lending,” stated Shivan Perara, Senior Vice President at AVANA Companies.
Driven by a commitment to streamline loan originations and to equip credit unions with the tools they need to grow their commercial real estate portfolio, AVANA is developing a cutting-edge, user-friendly online Participations Desk. This platform will allow credit unions to enjoy a seamless experience in assessing and buying loan participations, updating their deal preferences and monitoring the health of their portfolio through one consolidated portal. The platform is set to be available in Fall 2023.
