Lending

A program proposed by Missouri Gov. Jay Nixon to create a $2 million pool of funds that would make available low-interest and no-interest loans to small businesses is moving forward despite some objections.

The New York Times has taken a stand critical of a proposed federal law which would cap the interest and fees from payday loans at 15% across the country.

Payday lenders are attacked a piece of federal legislation aimed at protecting consumers from so-called payday loans by noting overdraft protection plans do not face similar regulations.

For companies that can prove a Small Business Administration loan will actually create jobs or produce green products and services, CU Business Capital LLC has opened up $45 million in lending capacity from the agency.

General Motors Corp, a participant along with Chrysler Corp. in "Invest in America," is extending its CU agreements through the end of 2009 with now more than 73,000 vehicle sales linked to the nationwide network.

Two members recently had their $10,687 auto loan and $4,998 home improvement loan paid off thanks to Southwest 66 Credit Union.