Of the 53 small business owners set to receive SBA 2010 "Person of the Year" awards during National Small Business Week in May, none of them received a loan from a credit union.
According to the SBA, the winners represent a diverse cross-section of American small businesses, and include an anemometry company, a professional caterer, a military glove maker, and an eco-friendly restaurant. The SBA will recognize the winners from 50 states, the District of Columbia, Puerto Rico and Guam in Washington May 23-25 to mark National Small Business Week.
"After extensive search of SBA data concerning the Small Business Week winners, it was determined that none has received a loan form a credit union," an SBA representative told Credit Union Times.
Award winners will also be recognized in the areas of disaster recovery, government contracting, small business champions, and SBA partner awards for financial assistance and entrepreneurial development. Credit unions could potentially be among those honored for their lending efforts at a May 24 awards ceremony. The $3.7 billion Randolph-Brooks Federal Credit Union of Live Oak, Texas, was last year's CU winner in the 7(a) loan program category.