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MBL Expansion Bill Introduced in House

Saying that credit unions could be sources of much-needed capital for small business, Rep. Paul Kanjorski last week introduced

By Claude R. Marx | Updated on August 04, 2009

Saying that credit unions could be sources of much-needed capital for small business, Rep. Paul Kanjorski last week introduced a measure allowing them to make business loans totaling up to 25% of their assets, up from the current cap of 12.25%.

“America’s credit unions could help fill this void in small business lending, but statutory limitations have so far forced many of them to sit on the sidelines.,” Kanjorski (D-Pa.) said in a statement.

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