What Element 22 Commercial Group does

Element 22 Commercial Group is a privately held Credit Union Service Organization (CUSO) founded in 2018 and headquartered in Kalamazoo, Michigan. The firm provides outsourced commercial lending and Member Business Lending (MBL) support to credit unions and community banks, plus borrower-advisory services to small businesses seeking SBA, USDA, or conventional financing. Co-founders Kenneth Leonard (CEO) and Ryan Reffitt (President), both career commercial bankers, lead a 1-10 person team that delivers a la carte professional services (underwriting, due diligence, loan closing, lien perfection, servicing, strategic planning, HR consulting) as well as end-to-end 'Total Loan Package' engagements.

The company's core technology asset is eXchange 22, a web-based loan participation marketplace that enables credit unions and banks to list, browse, evaluate, and manage loan participations nationwide, supplemented by QuickScore deal analytics, preference-driven alerts, and a Tuyu-branded secure file-exchange portal. Business model revenue comes from professional services fees, managed-services engagements, transaction/take-rate fees on closed participations, HR consulting, and referral/origination fees on borrower-placed loans. Element 22 raised $500,000 from 10 Michigan credit unions in 2018 and has since grown through CUSO/fintech partnerships with Tru Treasury, Innovative Business Solutions, and Community Capital, while scaling deal complexity across hospitality, recreation, senior living, and non-profit verticals.

Name

Element 22 Commercial Group

Legal name

Element 22 Commercial Group LLC

Website

https://element22cg.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Element 22 Commercial Group is a Michigan-based Credit Union Service Organization providing outsourced commercial lending, MBL program support, loan participation brokering via its eXchange 22 platform, and HR consulting to credit unions, community banks, and small business borrowers.

Ownership category

akta.pro rank

Product category

Commercial Lending Services

NAICS

Activities Related to Credit Intermediation (5223)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industry

P2P Loan Syndication & Participation Platforms (FSAKAHAL)

Keywords

• Commercial lending services
• Loan participation platform
• Credit union consulting
• Underwriting services
• Member business lending

Headquarters

HQ city

Portage

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. A la carte professional services for financial institutions: Element 22 sells a menu of consulting and outsourced services (underwriting, loan closing documentation, lien perfection, due diligence, portfolio servicing, strategic consulting, delinquency/workout/liquidation, strategic planning, deposit/treasury analysis, SBA/USDA program setup, loan origination). Clients pick only what they need; services are customized per institution with no membership requirement.
2. Total Loan Package (end-to-end commercial lending outsourcing): Comprehensive engagement that covers the entire life of a commercial loan — from underwriting, due diligence, and closing through ongoing servicing (annual reviews, insurance/property tax tracking, portfolio analysis, site visits with collateral valuations).
3. Loan participation facilitation fees (eXchange 22): Element 22 connects credit unions and banks to participate in commercial loans. The eXchange 22 platform is free to join and browse, and institutions only pay when they purchase a participation — implying transaction/take-rate fees on closed participations.
4. Human Resources consulting services: Pay-per-use HR services (recruitment, onboarding, employee handbook creation, policy/compliance, HRIS/payroll selection, performance management, training) sold to both financial institutions and small businesses.
5. Loan referral and loan origination fees: Element 22 refers loan opportunities (including SBA and USDA loans) to its financial institution partners, generating non-interest income for the institutions and referral/origination value for Element 22.
6. Borrower advisory and loan packaging fees: Concierge service for small business owners: free initial consultation, then Element 22 represents the borrower to its lender network, packages the loan presentation, negotiates terms, and assists with closing.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels8 records

Core offering

Element 22 Commercial Group operates as a Credit Union Service Organization (CUSO) that provides outsourced commercial lending support to credit unions, community banks, and small business borrowers. Its services include underwriting, due diligence, loan closing, lien perfection, portfolio servicing, SBA/USDA program setup, loan participation brokering, strategic planning, and Human Resources consulting. The firm also operates the eXchange 22 online marketplace platform that connects financial institutions for loan participations nationwide.

Product overview

The source material provided does not contain resolvable source identifiers (WX-prefixed IDs), so individual products and their relationships cannot be emitted with verifiable attribution.

Differentiator

Problem solved

Functional benefit

Brands

• eXchange 22: Element 22's loan participation platform/portal that allows credit union and bank partners to discover, evaluate, and manage loan participation opportunities nationwide.

Products and services

• A La Carte Commercial Lending Services for Financial Institutions A menu of customizable consulting and outsourced services for credit unions and banks, including underwriting, loan closing documentation, lien perfection, due diligence, portfolio servicing, strategic consulting, delinquency/workout/liquidation, deposit/treasury analysis, SBA/USDA program setup, and loan origination. Clients pick only what they need.
• Total Loan Package (End-to-End Commercial Lending Outsourcing) Comprehensive outsourced engagement covering the entire life of a commercial loan from underwriting, due diligence, and closing through ongoing servicing, including annual reviews, insurance/property tax tracking, portfolio analysis, site visits with collateral valuations.
• eXchange 22 Loan Participation Platform A web-based loan participation marketplace for credit unions and banks to list loan participations for sale, browse opportunities nationwide, manage pipeline, perform due diligence via secure document sharing, and use QuickScore analytics and preference-driven deal alerts. Free to join and browse; institutions pay only when they purchase a participation.
• Human Resources Consulting Services Pay-per-use HR services including recruitment, onboarding, employee handbook creation, HR policy and compliance, HRIS/payroll system selection, performance management, and training, sold to financial institutions and small businesses.
• Borrower Advisory and Loan Packaging Service Concierge service for small business owners offering a free initial consultation, after which Element 22 represents the borrower to its lender network, packages the loan presentation, negotiates terms, and assists through closing for SBA, USDA, and conventional commercial loans.
• Loan Referral and Origination Services Element 22 refers commercial loan opportunities (including SBA and USDA loans) to its financial institution partners, generating non-interest income for the institutions and referral/origination value for Element 22.

Quantifiable outcome

• $1.3MM resort acquisition and renovation project closed end-to-end (underwriting through servicing).
• +6 more outcomes

Named customers19 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core technology / fintech partnership, flagship client partner (showcased strategic partnership), core strategic partnership, industry association membership (minor), industry association partnership (moderate) and minor vendor (web design).

• Community Capitalcore technology / fintech partnershipTechnology or Integration · 1 June 2026Element 22 announced a strategic fintech partnership with Community Capital to enhance the eXchange 22 loan participation platform. The collaboration is described as going to 'change the game' for users by adding fintech capabilities to the platform, providing credit union and bank clients with improved access, efficiency, and reporting on the participation dashboard.
• North Central Area Credit Unionflagship client partner (showcased strategic partnership)Strategic or Co-development Partner · 20 January 2026An innovative partnership between North Central Area Credit Union and Element 22 to expand commercial lending opportunities and strengthen support for small businesses. The credit union partnered with Element 22 to grow its commercial lending capabilities while maintaining control, compliance, and member service standards. Featured in a January 2026 LinkedIn article and Element 22's own post.
• Tru Treasurycore strategic partnershipStrategic or Co-development Partner · 1 April 2025Tru Treasury, a leading provider of treasury management solutions and another Credit Union Service Organization (CUSO), partnered with Element 22 to deliver a combined commercial lending and treasury management suite. The collaboration lets credit unions extend support beyond lending into the daily financial operations of their business members, deepening relationships and improving commercial banking competitiveness. Covered by Finopotamus and CU Insight.
• Innovative Business Solutionscore strategic partnershipStrategic or Co-development Partner · 1 January 2025Both CUSOs announced a collaboration to provide credit unions with an all-encompassing business services toolkit. Innovative Business Solutions contributes deposit expertise; Element 22 contributes business lending proficiency. The goal is to help credit unions maximize commercial deposits and grow commercial lending portfolios. Covered by CU Insight and The Credit Union Connection.
• NACUSO (National Association of Credit Union Service Organizations)industry association membership (minor)OthersElement 22 is a 'proud member' of NACUSO, and CEO Kenneth Leonard has authored featured content for NACUSO ('Small Credit Unions, Big Business' NACUSO March Feature). NACUSO membership supports industry visibility and thought leadership.
• Michigan Credit Union League & Affiliates (MCUL)industry association partnership (moderate)OthersElement 22 CEO Kenneth Leonard was featured on the Michigan Credit Union League & Affiliates podcast 'Credit Unions, Coffee & Conversations' with MCUL CEO Patty Corkery, discussing Element 22's services, current rates, and the state of business lending. Provides visibility into the Michigan credit union community.
• Creative Marketing Group (Allegra)minor vendor (web design)Implementation/ SI/ Consulting PartnerElement 22's website is designed by Creative Marketing Group (allegracmg.com / Allegra), as credited in the site footer ('Website Design by Creative Marketing Group'). Vendor relationship for website design and marketing services.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Velera (formerly CO-OP Financial Services): A large, well-established CUSO providing payments, technology, and lending services to credit unions. Comparable as a CUSO serving the credit union ecosystem with both service and platform offerings, though at vastly greater scale than Element 22.
• Open Lending: Provides lending analytics and risk-based pricing solutions to credit unions and banks, primarily in auto lending. Comparable as a credit-union-focused technology and analytics provider that helps financial institutions expand their lending programs, though focused on auto rather than commercial lending.
• LendingTree: Large online loan marketplace connecting consumers and small businesses with multiple lenders. Comparable to eXchange 22's marketplace model for loan participations, but operating in adjacent (consumer/SMB) lending categories at national scale.

Direct peers

• Lendio: SMB loan marketplace that connects small business borrowers with a network of lenders, including SBA loans. Comparable to Element 22's borrower-advisory and loan-packaging model, with similar 'one application, many lenders' positioning, but operating at much larger scale and broader geography.
• Fundera (a LendingTree company): Online marketplace matching small businesses with lenders for SBA, term, and working capital loans. Comparable in the SMB borrower-to-lender matchmaking and loan packaging value proposition that Element 22 provides to its credit union lender network.
• CU*Answers: CUSO providing core processing, IT, and business services to credit unions. Comparable as a CUSO offering a stack of outsourced services (including lending-adjacent capabilities) to credit union clients, though focused on core/IT rather than commercial lending.
• Tru Treasury: CUSO providing treasury management solutions to credit unions. Comparable as a CUSO partner that serves the same credit union client base with complementary services, and an explicit strategic partner of Element 22 for bundled commercial lending + treasury offerings.
• Michigan Business Connection: Michigan-based credit union service organization facilitating business lending collaboration among credit unions. Directly comparable as a CUSO that organizes multi-institution commercial loan participations, and is itself a participant in Element 22's Greystone Pickleball Club deal.

Regional players

• National Cooperative Bank (NCB): A cooperatively structured bank providing commercial lending, SBA loans, and treasury services to cooperatives and member-owned organizations. Comparable as a cooperatively aligned lender that supports small businesses through mission-driven institutions, similar to Element 22's credit union orientation.
• Great Lakes Commercial Finance: Regional commercial finance provider serving small and mid-sized businesses in the Great Lakes region. Comparable in commercial loan participation and SMB lending focus within the same Michigan/Great Lakes geography where Element 22 is concentrated.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/element22cg
• LinkedInlinkedin.com/company/element-22-commercial-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Element 22 Commercial Group