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Number of Active SBA CU Lenders Improves After Changes

It's been two years since the SBA moved its credit union lender approval process from Washington to its district offices and the shift has produced some notable increases.

By Michelle A. Samaad | Updated on July 11, 2010

It’s been two years since the SBA moved its credit union lender approval process from Washington to its district offices and the shift has produced some notable increases.

In August 2008, the SBA made the adjustment to streamline procedures and process CU lender applications faster, according to David Donner Chait, policy associate with the SBA’s Office of the Administrator. The most current data showed that the number of active credit unions lenders increased by 31% between March 2008 and March 2010. The number of loans and dollars outstanding held-the SBA’s share-increased by 55% and 53% during the same period, respectively. The number of the agency’s active CU lenders also increased from 194 to 254.

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