Among the 20-plus organizations served by Choices Federal Credit Union is a group of small business development centers.
The seven-year-old cooperative in St. Louis with $437,000 in assets and a little over 400 members still felt that it could meet a growing need for those graduating from those SBDCs that, despite completing a 10-week intensive small business curriculum and putting together a business plan, were being turned down for the smallest amounts of start-up capital.
"After they're done, they're dead in the water because they can't get funding," said Phil Minden, chairman of Choices Federal.
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