If a picture is worth a thousand words, a video might be considered a novel.
In the economy's heyday, when the flow of credit gushed abundantly to small businesses and lines of credit and leased new equipment were granted freely, some lenders seldom, if ever, asked for a personal guarantee. Then the recession hit.
Credit unions in Michigan looking to launch or jumpstart their stalled SBA lending programs are invited to attend two, free training sessions in July.
The proposed elimination of personal guarantees could potentially cripple underwriting and punish those credit unions that have not "excessively abused their privileges," a group of 15 member business lending CUSOs recently wrote.