ARLINGTON, Va. — NAFCU says it looks forward to continuing its work with the Small Business Administration and recently gave props to the agency for wanting to get feedback on its Draft Fiscal Year 2008-2012 Strategic Plan.
The draft Strategic Plan describes SBA's mission, strategic goals, objectives, and means and strategies to achieve a number of goals including outlining the direction that SBA will take as it moves ahead to expand opportunities for America's small businesses and to assist victims of federally-declared disasters.
"The credit union community is firmly committed to helping small business owners and entrepreneurs achieve greater access to financing and to increase ownership in economically distressed and underserved communities," wrote Pamela Yu, NAFCU associate director of regulatory affairs, in a Sept. 10 comment letter.
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Yu reminded that NAFCU is also supporting H.R. 1849, the Credit Union Small Business Lending Act, introduced in the 110th Congress by Chairwoman Nydia Velazquez (D-NY) of the House Committee on Small Business to improve the ability of credit unions to participate in SBA programs by enacting some key provisions that are pivotal steps toward facilitating more SBA loans by credit unions and encouraging increased business lending practices.
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