Lending

Nearly $500 million in the SBA's Patriot Express loans have been approved by credit unions and other lenders to help military veterans, reservists and their spouses start and expand their businesses.

Sen. Mark Udall (D-Colo.) introduced an amendment to the jobs bill moving through the Senate today to increase credit union business lending authorities.

Credit unions in New Jersey are being encouraged to make their voices heard this week as the Senate debates the Small Business Lending Fund Act and an amendment that would increase the member business lending cap.

A group of managers of faith based credit unions headquartered in New York City is forming an ad-hoc group meant to help them resist some of the pressures facing them, including compliance pressures and balance sheet worries

The SBA said nine banks are the first approved lenders for a new loan pool origination program that will assemble and sell pools of 504 program first mortgage loans to help jump start a secondary market.

Student lending program provider Fynanz has announced the creation of a new CUSO, CU Student Lending LLC.