CINCINNATI — NCUA Board Member Gigi Hyland met with local credit union officials here this morning to share insights, listen and discuss ideas regarding credit union member business lending.
The event, held at AurGroup Financial Credit Union, recognized the upcoming National Small Business Week, while highlighting the Small Business Administration's products and services available to credit unions. Hyland serves as NCUA's liaison to the SBA.
"Small businesses create two out of every three new jobs and account for nearly half of America's overall employment," Hyland said. "Credit unions are poised to fuel this economic growth by expanding products and services available to promising entrepreneurs. Right here in Cincinnati and across America, I am encouraged by the dedication and commitment to small businesses demonstrated throughout the credit union system."
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Facets of member business lending discussed at the meeting included SBA lending programs, perceived hurdles to participation in such programs, examination issues, and other member business lending opportunities.
"Whether starting or expanding a business, entrepreneurs need access to sufficient capital," Hyland said. "Credit unions are ideally suited to meet that need. The SBA offers numerous loan programs to assist small businesses and I encourage credit unions to explore making these products available to their members."
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