L.A. SBA Committed to Working With CUs

On behalf of the Los Angeles District Office of the U.S. Small Business Administration, the California Credit Union League and WesCorp, I’d like to thank Credit Union Times for helping to get the word out about SBA and other member business lending and how these programs can provide financial benefits to both credit unions and their members. As reported in your June 29 issue, our June 14 seminar brought together officials from California’s Department of Financial Institutions, NCUA, SBA, successful business lenders and credit unions from throughout California at a venue that proved valuable in the sharing of expertise about member business lending. I am grateful to all the participants and particularly to those credit union lenders desiring to provide business loans to their members. The purpose of the event was to convey the advantages of providing credit union members with business financing through the many SBA financial assistance programs available and the steps involved to become an SBA approved lender. These goals were achieved throughout the introductory Webcast, the event itself and subsequently by the excellent coverage of Credit Union Times. You certainly helped capture the consensus expressed by all the speakers that it is time for credit unions to take on a more active role in financing their members’ businesses and to start taking advantage of the opportunities that these financial relationships provide to the lenders and customers. The Small Business Administration and the Los Angeles District Office are committed to assisting all new lenders in becoming active SBA lenders and we strongly encourage all credit unions to contact their local SBA district offices, their corporate credit unions and trade organizations for more information on participating in SBA’s loan programs. Alberto G. Alvarado District Director U.S. SBA- Los Angeles District Glendale, Calif.