SAN ANTONIO — The Small Business Administration has tapped United San Antonio Federal Credit Union a 7(a) loan program lender.
The 7(a) program can be used to boost capital for start-up ventures or expand small businesses. Under the program, the SBA may guarantee up to $1.5 million of the loan made by a private-sector lender provided the total loan amount does not exceed $2 million, according to the agency.
"We are excited to be able to offer this new financing option to members and potential members," said Steve Coomes, president/CEO of $215 million United SA. "Many in this community possess an entrepreneurial spirit and we look forward to helping them realize their dreams of business ownership or expansion."
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