In the past few months, credit unions have seen several new bills introduced in Congress that would help advance their ability to provide access to much-needed capital to small-business members for up to $50,000. The Small Business Administration’s ( SBA) fundamental lending mission to help creditworthy small business borrowers that otherwise would be unable to access credit on reasonable terms and conditions goes hand-in-hand with the credit union philosophy of ‘people helping people.’

In February, Bill Trace of San Diego went in search for a small business loan of $35,000 to invest in a swimming pool business in San Diego. His bank turned him down. He asked around and walked in to University & State Credit Union (assets of $794 million) on a tip that they had begun to give out small business loans. By the middle of March he had the funds, his pool business and a new career.

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