WASHINGTON – Starting in the new year, thrifts can make larger small business and farm loans.
The Office of Thrift Supervision increased small business and farm loan limits made by thrifts to $2 million.
That's double the previous limit for small business loans and four-times the limit of the previous farm loan limits.
The OTS also clarified that these loans could be made to individuals if they are used for commercial, corporate, business or agricultural purposes.
Seven credit unions converted to thrifts in 2001.
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