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.
New agency would merge functions of SBA, Office of Trade Representative, Export-Import Bank, others.
The $361 million Members Choice Credit Union said it was recently ranked the tenth top SBA lender in the Houston market.
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.
Corning FCU CEO testifies on the Hill for the second time this month.
Two weeks after appearing before a House subcommitee to endorse raising the member business lending cap, CEO Gary Grinnell will be back to testify at a hearing on SBA loan programs.
NCUA chair tells House panel that raising member business lending cap would help credit unions and small businesses alike.
Over the past 24 years, when banks were pulling back on lending to businesses, it appears credit unions were quietly and consistently stepping in to fill the void.
Member business lending, job creation up for discussion in session with SBA regional administrator.
While credit unions don’t have as many issues on Capitol Hill as they did last year, when lawmakers return from recess after Labor Day, there will be enough subjects that will keep industry officials and lobbyists actively prowling the halls of the Capitol.