If a House bill backed by the American Bankers Association in a new package of legislation designed to help small businesses create more jobs gives credit unions expanded lending authority, the banking trade group has vowed to pull back its support.
Among the 20-plus organizations served by Choices Federal Credit Union is a group of small business development centers.
Choices Federal Credit Union was nervous but interested about offering a microenterprise loan program at the suggestion of a local foundation.
The Filene Research Institute and SaveUp have joined forces and are looking for a few good credit unions.
As the SBA marks the recent renewal of its Patriot Express initiative for three more years, credit unions have helped grow the program by providing loans to the military community.
Credit unions and other lenders have helped the SBA's Patriot Express loan program reach the $500 million mark.
Nearly $500 million in the SBA's Patriot Express loans have been approved by credit unions and other lenders to help military veterans, reservists and their spouses start and expand their businesses.