Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON — Though the House overwhelmingly passed the Small Business Lending Improvements Act of 2007 (H.R. 1332), it is just one piece of a larger Small Business Administration reauthorization plan and reports are unclear whether the Senate is on the same page.

The bill, which passed the House 380-45, would help lower the cost to borrowers to secure business loans through the SBA. H.R. 1332 would direct the SBA administrator to establish a rural lending outreach program and a community express program for loans of $250,000 or less; provide special considerations for medical professionals looking to start their practices in Designated Shortage Areas; increase veteran participation; revise eligibility requirements for development company designation as a certified development company and require certain CDCs to contract for the foreclosure and liquidation of defaulted small business loans; and authorize SBA loans for projects which reduce energy consumption by at least 10%.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.