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Credit unions wanting to make more business loans received another glimmer of hope last week when Sen. Mark Udall (D-Colo.) introduced an amendment to the jobs bill moving through the Senate to raise the statutory cap on those loans from 12.25% of assets to 27.5% of assets.

Udall has said that raising the cap will help “unlock the credit market so businesses on Main Street can make payroll, buy inventory and expand. By increasing access to credit union loans, small businesses across the country will be able to expand and create thousands of jobs.”

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