It is credit unions. Most credit union lending that isn't agricultural—agricultural is a little different—and that is commercial is secured by real estate. That reflects the size, the risk tolerance, and the profitability of credit unions.
For instance, my particular credit union does lots of things the banks don't do. But one of the things we also don't do that the banks do is make a ton of money. Our ability to backstop high-risk loans is relatively limited. So the quid pro quo for us is that we tend to rely on real-estate-backed lending.
My guess is that the one you're talking about either hasn't talked to a credit union or is talking about financing something that's secured by receivables or inventory.