RICHMOND, Va. — UVA Community Credit Union has become the first credit union in Virginia to participate in the Small Business Administration's loan guaranty programs.
The $329 million credit union submitted its first SBA loan request in late October seeking a guaranty on a $75,000 loan to assist a startup business in the Charlottesville/Albemarle area.
"Without SBA guaranty support of this loan request, we would not have been able to meet our member's request for startup financing of her business," said Michael Lyster, vice president of business services with UVA Community Credit Union.
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