The Small Business Administration would no longer be a separate entity and its functions would be incorporated into an agency that combines the functions of six agencies that deal with trade and business matters, according to a proposal made by President Obama.
While it may not be much of a surprise to credit unions that some banks are not eager to approve funding for small businesses these days, the rate of rejections might cause some alarm.
New agency would merge functions of SBA, Office of Trade Representative, Export-Import Bank, others.
Report author says the "big banks are sitting on their assets."
Seattle CU sees 65% jump in loan applications.
Short-term loans are in demand. According to a recent Wall Street Journal report, payday lender and pawn shop share prices jumped in October. Some credit unions are taking this opportunity to provide similar products, but at a lower cost and with a different philosophy in mind. While payday lenders encourage...
More than 200 credit unions are now expediting account openings and loan closings with electronic signature software from Seattle-based DocuSign, the company said.
Fourteen new members in past hour. CEO says, "It's amazing, the flow of traffic in our lobby."
Credit unions could make more loans if the Small Business Administration streamlines its loan approval and evaluation processes and Congress raises the cap on member business loans, Corning FCU President/CEO Gary Grinnell told a House panel.
The 550 credit unions that subscribe to loanliner.com, CUNA Mutual Group’s online lending platform, allow members to manage their applications for consumer and home equity loans via the Web.