Lending

President Obama has proposed temporarily increasing the cap on SBA Express loans from $350,000 to $1 million in the latest effort to jump-start business lending.

One of the most pressing issues for Michigan Gov. Jennifer Granholm is job creation.

Despite last week's blizzard that literally shut down Washington, Tower Federal Credit Union is still optimistic about the findings from a new report that show the region has several qualities that may make it ideal for stronger economic growth this year.

Member business loans, which accounted for 6% of all loans in 2009, increased 5.8% in 2009 but dropped below growth trends seen over the past several years.

Credit unions will have to find another place to invest up to $1 billion worth of agency mortgage backed securities, according to an industry expert.

Fifteen credit unions in the past quarter have signed with Lending Solutions Inc. as users of its lending and member service contact center, the company said.