SAN ANTONIO, Texas – Texas Gov. Rick Perry conducted the second in a series of small business summits at the Henry B. Gonzalez Convention Center here Aug. 26. "Credit unions can play a significant role in helping small businesses build our communities. We are pleased that Governor Perry is including credit unions in his small business summit meetings throughout Texas," said Randy Smith, CEO of Randolph-Brooks Federal Credit Union. The $2.3 billion credit union, along with the five other San Antonio credit unions currently offering members business loans, attended the summit. As part of the daylong event to educate and arm small business owners and entrepreneurs with the tools necessary to start and grow a business, Robert Zearfoss, Randolph-Brooks FCU SVP of Mortgage Lending shared how to obtain funding from local lenders. Zearfoss urged attendees to remain diligent when trying to obtain credit as a small business. "There is no magic template to determine if someone qualifies for a loan – everyone [lender] does it differently," he said. When seeking credit, Zearfoss said: * be prepared; * be open and honest; * explain anything negative on your credit report – the lender will feel you are upfront; * be diligent. If you are told no, try another financial institution; and * every financial institution looks at credit differently and weighs criteria Zearfoss was part of the "Financing Business Growth and Expansion" panel that also included representatives from the U.S. Small Business Administration, U.S. Small Business Development Corporation, and ACCION Texas. "This [summit] truly reflects the Governor's commitment to helping the small business owner," said Zearfoss. Though they do not currently advertise the loans, Randolph-Brooks FCU has been providing MBLs for nearly five years with a portfolio of $55 million. "We are trying to meet all the lending needs of our members and that (MBLs) is just one aspect," said Zearfoss. In addition to financing a small business, the daylong summit provided education and resources on a variety of small-business related topics from developing a capable workforce to taxes and tax credits. Other San Antonio area credit unions offering member business loans are: Fellowship Credit Union; San Antonio City Employees Federal Credit Union; San Antonio Federal Credit Union; Security Service Federal Credit Union and Southside Credit Union. The first summit was held in June in El Paso. Government Employees Credit Union assisted with that presentation. -

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