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Credit unions will be able to help credit-deprived businesses if the cap on member business lending is lifted and if certain SBA lending programs were modified, Randolph-Brooks Federal Credit Union Senior Vice President Mark Sekula told the House Small Business Committee today.

Sekula, who testified on behalf of NAFCU, described the current cap-12.25% of assets- as “antiquated and arbitrary,” and reiterated NAFCU’s support for a bill to lift the cap to 25%. He also urged the reintroduction of a measure to exempt credit union participation in SBA lending programs from counting against the current member business lending cap.

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