WASHINGTON-Two credit unions recently announced that they received Small Business Administration approval to participate in the administration’s guaranteed loan programs. Spokane Teachers Credit Union and Boeing Wichita Credit Union both have been approved for SBA lending to help them expand their business lending services. “We’ve been doing business and commercial accounts for two years now, but this will allow us to serve our members’ needs much better on the business side,” BWCU Vice President of Lending Chuck Bullock, vice said. “Consumers will now only wait 36 hours for an approval decision from the SBA. Interest rates will also be very attractive along with new longer term loan options.” Additionally, STCU has moved its business services department for expansion and plans to hire a new senior business loan processor by the end of the month. STCU already offers a full line of business loans (including lines of credit and equipment, vehicle, or inventory loans, as well as commercial real estate loans) deposit accounts, and convenience services.

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