In 2011, credit unions granted nearly $12 billion in memberbusiness loans, setting a new record high, based on fourth-quarterdata from the NCUA, NAFCU reported Thursday.

The news comes during National Small Business Week, which marks the achievements ofsmall businesses in helping to create jobs and aid the economy.

NAFCU President/CEO Fred Becker said the record is a noteworthymilestone considering that credit unions have provided nearlydouble the amount of funds to small business that Bank of Americaclaims to have done in their new ad campaign.

While credit unions would like to do more to help their smallbusiness members, the current 12.25% cap on MBLs has limitedlending efforts, NAFCU said.

NAFCU, CUNA and others are advocating for passage of theSmall Business Lending Enhancement Act (S. 2231/H.R. 1418),which would raise the cap to 27.5% of assets.

Meanwhile, Sen. Mark Udall (D-Colo.) marked National Small Business Weekas well by recognizing Colorado's small businesses.

“I will continue to work with my colleagues to foster a businessenvironment that supports entrepreneurship and innovation, frompassing production tax credits that prop up a burgeoning windenergy sector to raising an arbitrary cap on credit union lendingto give Main Street businesses access to capital,” Udall said in astatement.