HUNT VALLEY, Md. — Butler Capital announced that BankUnited, a large regional bank based in Florida, has acquired its small-business lending operations. The lending operations will become a subsidiary of BankUnited known as United Capital Business Lending (UCBL).
“UCBL will build upon Butler Capital’s national lending platform, as well as the experience and expertise of the Butler Capital staff,” says Larry Butler, who will continue as Butler Capital’s CEO and serve as a consultant to UCBL.
“As a subsidiary of BankUnited—one of the strongest banks in the country—UCBL will bring significant advantages to our customers, with the ability to fund much larger transactions with more competitive pricing.”
Butler is a longtime lender to the drycleaning industry, as well as restaurant franchise operations such as Burger King, Taco Bell and Papa John’s. Butler will continue to service some of its loan portfolio, but will no longer originate new loans.
“The credit crisis continues to be a hurdle for companies of all sizes,” says Bernard Lajeunesse, incoming UCBL CEO. “As a BankUnited company, United Capital Business Lending can provide businesses with the capital they need and enable the bank to extend its asset-gathering capabilities across the country.”
Have a question or comment? E-mail our editor Dave Davis at [email protected] .