Michigan credit unions and CUSOs are spreading the word statewide to small business owners that financing is available.
The Credit Union Small Business Financing Alliance has rolled out a new website at www.cusbfa.com. Launched in February, the CUSBFA is a partnership between the Michigan Credit Union League, Michigan Economic Development Corp. and Michigan Small Business and Technology Development Centers, with more than 30 Michigan credit unions committing an initial $43 million that will benefit more than 2,000 new businesses, according to the league.
The CUSBFA website has information for businesses and entrepreneurs such as how to get started and other resources. A section for credit unions and CUSOs lists information on how those in the industry can participate in the financing partnership. Two CUSOs, the Michigan Business Connection and Commercial Alliance, and Central Corporate Credit Union are listed as participants.
"Michigan's credit unions have experienced strong growth and have the capital to help fund entrepreneurs and small business owners," said MCUL President/CEO David Adams. "The online tools are now available to connect them with local credit unions to apply for the necessary funding to start or grow their business."
MEDC President/CEO Greg Main said the partnership between the state and credit unions "is a driving force in this effort, empowering small business owners and entrepreneurs to pursue their dreams and helping them to succeed."