Lending

Delinquencies among eight installment-loan categories increased to 3.23% of all accounts during the first quarter from 3.22% in the last three months of 2008, the American Bankers Association reported today.

Despite some criticisms of the SBA's new America Recovery Capital program, Dupaco Community Credit Union said it believes the loans will bring much-needed assistance to members.

While the SBA expected a new program offering deferred payments and no fees to be in huge demand, only $4.6 million loans have been funded since the recovery effort was launched on June 15.

The prospect of big loan demand from state employees resulting from Illinois' current budget crisis has one credit union prepared with revised procedures "so we don't waste a lot of staff time with inactive accounts."

Beginning today, auto, recreational vehicle and other dealerships can apply for a revolving line of credit financed through the SBA's 7(a) loan program.

From collateral alternatives to questioning if there is a "magic formula" to determine loan approval, Phil Bryan, senior vice president of retail and lending at Metro Credit Union, shared his insights during a Twitter town hall this afternoon.