The $800 million Workers’ Credit Union is the latest in the industry to be recognized by the Small Business Administration for its lending activity.
For all the hits that some banks have received for scaling back their business lending efforts, they are the Small Business Administration’s most active 7(a) loan program lenders.
For its service to the underserved, ASI Federal Credit Union was recently honored with the Small Business Administration’s Financial Services Champion of the Year award.
The Small Business Administration has issued a proposal that would adjust the size definition of small businesses in professional, scientific, technical and other services sectors.
Sen. Mark Udall (D-Colo.) will try to make his legislation to raise the MBL cap to as much as 27.5% of assets an amendment to the bill currently pending in the Senate to fund the Small Business Administration.
For San Antonio, Texas-based Generations Federal Credit Union, helping out members has meant making the sorts of loans it had never made before or had even contemplated making.
1st Advantage Federal Credit Union, Yorktown, Va., received a Green Award from the Newport News Green Foundation for its Denbigh branch.
The SBA said credit unions and other lenders will be able to get the information they need faster when the agency revamps its entire website this fall.
Honoring small business owners of the year, President Obama recently urged Congress to pass two major programs to increase lending to small businesses.
Aggressively seeking the membership of small businesses has not traditionally been a strategy for most credit unions.