State program is providing $48 million in funding to credit unions and other lenders to help approve more small business loans.
Thanks to funding from Bethex Federal Credit Union, a member was recently able to purchase the building that houses South Bronx businesses.
From credit lines to refinancing and vehicle loans, small business owners are sharing how their relationships with Gesa Credit Union have helped their firms grow.
The Texas Association of Business said credit unions have a strong track record when it comes to lending to small businesses.
David Adams cited for helping Michigan credit unions sharply increase small business lending.
Nearly a year after Michigan CU Capital launched a statewide lending brand that would connect small businesses to credit unions, the effort has added another level to increase its exposure.
ABA says banks have added more than $180 billion in business loans in the past 18 months, financing more than 20 million small business loans.
Some bankers said they are so encouraged by signs that the economy is starting to recover that they plan to increase their small business lending efforts this year.
Biz2Credit analysis based on 1,000 funding requests from credit unions, small banks and other alternative lenders.
Since 2007, Wisconsin credit unions have increased small business lending by more than 51%.